Amount of operations subject to means of payment is reduced to S/ 2,000 or US$ 500

Within the framework of the powers delegated by the Congress of the Republic, the Executive Power today approved a Legislative Decree that modifies the law for the fight against tax evasion and the formalization of the economy.

Currently, the rule establishes that operations of S/ 3,500 or US$ 1,000 must be executed through a means of payment, however, with the approved changes, these amounts decrease to S/ 2,000 and US$ 500.

“The objective is to have more information and generate a greater formalization of the economy,” said the head of the Ministry of Economy and Finance (MEF), Oscar Graham.

Likewise, it is also being established that, in the case of transfers of real estate and vehicles, when said operation exceeds S/ 4,600 (1 UIT), it must be carried out through a means of payment such as a wire transferpayment to an account or use of a check,.

“This allows us greater transparency and traceability of these operations. Obviously these restrictions do not apply in districts and localities where there is no presence of the financial system because there we would generate a greater inconvenience to the citizen”, the official pointed out at a press conference.