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Tag: Income tax

Congress denies the Executive the tax powers in the mining field

Congress denies the Executive the tax powers in the mining field

With 96 votes in favor, 18 against and 1 abstention, the Plenary of the Congress of the Republic approved the bill that delegates to the Executive Power, the power to legislate on tax, fiscal, financial and economic reactivation matters. The replacement text approved by the Plenary does not fully include the tax reform proposed by […]

Income Tax Collection grew 49.7% in November

Income Tax Collection grew 49.7% in November

The Central Reserve Bank of Peru (BCRP) reported that income tax collection grew by 49.7% between November 2020 and 2021 (23.1% compared to November 2019), mainly due to higher payments to count of legal persons. In detail, the collection of personal income tax increased by 33% percent compared to November 2020 (22.9% compared to the […]

Those who earn over S / 300,000 per year would pay an additional 5% income tax

Those who earn over S / 300,000 per year would pay an additional 5% income tax

The Vice Minister of Economy Alex Contreras explained, in an interview for La República, the Executive’s proposal to increase income tax (IR) rates for those taxpayers who receive more than S / 300,000 per year, with an estimated maximum of 5%, which it would be a marginal section due to the excess. “In other words, […]

Tax reform is progressive and seeks a more equitable collection, according to international experts

Tax reform is progressive and seeks a more equitable collection, according to international experts

This week, international experts presented to the technical team of the Ministry of Economy and Finance (MEF) their evaluation of the request for legislative powers in tax matters presented by the Executive Power to the Congress of the republic. The conclusion is that the proposed measures aim to improve the progressiveness of the Peruvian tax […]

Sunat: income tax collection in Peru amounted to S / 4,164 million in November

Sunat: income tax collection in Peru amounted to S / 4,164 million in November

The National Superintendency of Customs and Tax Administration (Sunat) reported that the income tax (IR) in November collected S / 4,164 million. This result represents higher payments on account of the third category Income Tax of the general regime and the mype tax regime that increased together by 41.9%, compared to November 2020. They also […]

Sunat: collection in Peru jumped 27.9% compared to prepandemic levels driven by IGV

Sunat: collection in Peru jumped 27.9% compared to prepandemic levels driven by IGV

The National Superintendency of Customs and Tax Administration (SUNAT) reported that the collection in November reached S / 13,034 million of Net Central Government tax revenues (discounting tax refunds). This amount is 27.9% higher than what was registered in November 2019. The General Sales Tax (IGV) it had a collection that amounted to S / […]

Pedro Francke on the rental rate: “Our measure does not increase the payment of taxes, but rather reduces it”

Pedro Francke on the rental rate: “Our measure does not increase the payment of taxes, but rather reduces it”

The head of the Ministry of Economy and Finance (MEF), Pedro Francke, reported, this last Friday, November 12, that an adjustment to the tax on real estate rentals (currently 5%) does not increase the payment, but will reduce it. During his presentation to the Working Group on the Expansion of the Tax Base, Evaluation and […]

Income tax: what is it, what are its categories and how to calculate them?

Income tax: what is it, what are its categories and how to calculate them?

At Peru, Income tax (IR) is applied to all earnings obtained from a job or from the exploitation of capital, whether from real estate (houses, apartments and land) or furniture (vehicles, machinery, artifacts ). This tribute is paid to the National Superintendency of Tax Administration (Sunat) once a year. Find out below what their categories […]

Income tax on property rentals of up to S / 2,566 would be eliminated

Income tax on property rentals of up to S / 2,566 would be eliminated

One of the tax reform measures that the Executive would implement – if it obtained legislative powers – will be to adjust the first category income tax (IR), which levies rents at a rate of 5% for each transaction. In this sense, the Ministry of Economy and Finance (MEF) proposes that the first category income […]

Sunat: October collection registered growth of 31.5%

Sunat: October collection registered growth of 31.5%

According to the National Superintendency of Customs and Tax Administration (call), in October 2021 the collection was S / 11,214 million of net Central Government tax revenues (discounting tax refunds), which represents an increase of 31.5% and 14.5% over the same amount collected month in 2020 and 2019, respectively. The entity pointed out that in […]