Changes to the IR law: with what documents can capital increases be supported?

Yesterday, the Executive Branch approved amending the Income Tax Law in order to establish which documents may be used by taxpayers to support their equity increases from 2023. This, within the framework of the delegation of powers granted by the Congress of the republic.

Currently, equity increases It can be justified with simple documents, without formalities and in some cases issued after the control actions of the National Superintendence of Customs and Tax Administration (Sunat) have been initiated.

However, with the modifications made, the aim is to align the regulation of Income Tax with that established in the Civil Code and sectoral regulations, as well as continue with the frontal fight against tax avoidance and evasion.

In this way, the Ministry of Economy and Finance (MEF) points out some examples of the documents that can be presented to support capital increases:

– Donation of real estate: The equity increase it must be supported by public deed as provided by the Civil Code (article 1625).

– Donation of shares in an SRL: The formality of modifying the bylaws must be complied with, as required by the General Law of Companies.

– Wedding gifts: You must comply with the formality established in the Civil Code. Therefore, they can be supported with reliable documents such as, for example, the account statements of one of the spouses, where the income of said installments as gifts is verified (article 1626 of the civil code).

It is important to clarify that the changes made do not establish that the Sunat supervises certain acts, but that it is only indicating in the tax regulations the documents that will prevent the tax administration from determining the TO GO for those items of personal wealth.

In effect, the control power of said entity is exercised based on annual programs prepared according to the taxpayers’ risk profiles.