The Minister of Economy and Finance, Pedro Francke, announced that the first report of the International Monetary Fund (IMF), aimed at providing advice to Peru on a new mining tax, will be delivered this Friday, October 29.
During the press conference, where he presented the reform package in the company of the heads of the Sunat, SBS and Banco de la Nación, the head of the MEF said that part of the financial and tax reforms that this Government is carrying out includes an increase in the Tax Income (IR) to companies in the mining sector, whose operating margin is greater than 80% or 90%.
In this sense, he recalled that already in 2011 a regime had been published for the delivery of mining royalties, as well as a special tax for extraction, so now they are only “perfecting” it.
“There is scope to improve the rate for those with the largest operating profits. We do not propose new taxes, simply the idea is for those who already have high earnings to increase their contribution rate ”, he remarked.
Francke Ballvé confirmed that tomorrow there will be a first sketch of the working table responsible for carrying out such an initiative together with IMF specialists, in order to compare the reality of mining taxation in Peru with that of other countries in the world.
“The idea is that competitiveness in the sector is not lost and one of the advantages is that they (the IMF) have information from all the countries of the world on fiscal regimes and are making the necessary comparisons,” said Minister Francke. .
With this information, the Ministry of Economy and Finance hopes to calculate the margin it would have to raise the IR rate in the mining sector, aimed at the companies that earn the most.
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