In the midst of an intense heat wave that we Peruvians are facing, beer sales have experienced a notable increase and reached figures that range between 40% and 50%, according to the Peruvian Winery Association. However, the gradual application of the Selective Consumption Tax (ISC) has generated rejection from the brewers’ union due to the […]
Tag: Excise tax
MEF announces increase in the ISC: by how much will the cost of beer, pisco and cigarettes increase?
The Ministry of Economy and Finance (MEF) has implemented an increase in the Excise tax (ISC) applicable to high demand products such as beer, cigarettes and pisco. This measure, which seeks to align taxes with recent accumulated inflation, will come into force from March 2024. In an effort to adapt to economic variations and ensure […]
MEF will raise the ISC: by how much will the cost of beer, pisco and cigarettes increase?
The Ministry of Economy and Finance (MEF) will update the Selective Consumption Tax (ISC) after 2 years from March 1. Although this adjustment is usually made every year, it had stopped doing so because the economic context was not optimal. Now that there are expectations that 2024 will be the year of recovery, the State […]
Minister of Economy announces increase in the Selective Consumption Tax in 2024
The Minister of Economy and Finance, Alex Contreras, announced last Monday, January 29, that the Government plans to increase the Selective Consumption Tax (ISC) during 2024. This measure was postponed last year to provide support to companies amid of the complex situation that the country was going through due to the possible arrival of the […]
Increasing the ISC would generate a 4.5% drop in annual winery sales, according to CCL experts
If the Ministry of Economy and Finance (MEF) decided to adjust the fixed amounts of the Selective Consumption Tax (ISC) to inflation in 2022 and 2023, the annual sales of wineries could fall by 4.5%. This was warned by tax lawyer Leonardo López, partner of Hernández y Cía. Lawyers. The also president of the Tax […]
Why the Selective Consumption Tax will not rise this year and what products are taxed with this tax?
He Minister of Economy and Finance (MEF), Alex Contreras, ruled out that during this 2023 there is a readjustment of the Selective Consumption Tax (ISC), as planned. Along these lines, he announced that the decision will be postponed until 2024, “depending on the circumstances.” “I think that one year is enough time for companies to […]
MEF: Selective Consumption Tax will not be raised this year
On the horizon of the El Niño phenomenon, the most prudent thing to do is not to readjust taxes, said Minister Alex Contreras. Minimum pension would benefit those who earn the most Price of the dollar today in Peru: what is the exchange rate for this Tuesday, June 27? The head of the Ministry of […]
ISC: MEF would once again postpone the increase in the Selective Consumption Tax until December
The Minister of Economy and Finance, Alex Contreras, informed that the update of the fixed amount of the Selective consumption tax (ISC) It will not be executed until the last quarter of 2023, between the months of November or December, after a first postponement last January. The fixed amounts of the ISC can be updated […]
What are the 12 business rules in effect this year?
For this 2023, 12 tax regulations for the business sector come into force, reported the Chamber of Commerce of Lima (CCL). Likewise, although some are recent, others have been issued at the end of 2022. For the most part, the regulations issued at the end of 2022 —whose modified regulation had to be published until […]
What does ISC mean in Peru and what products does it affect?
The Selective Consumption Tax (ISC) is a concept that all people involved in the production and importation of products such as fuel, soft drinks, cigarettes and others determined by the State must know. The first sales of such goods and services they must pay this tax that tries to discourage their consumption by considering that […]