The Minister of Economy and Finance, José Arista, announced the approval of the law that establishes an 18% VAT tax for digital platforms of goods and services, known as the ‘Netflix Tax’. The new tax will also apply to other services, such as Airbnb. The head of the MEF stated that “Netflix and other platforms’ […]
Tag: VAT
Reduction of VAT to 8% approved for hair salons and beauty centers, which benefits large franchises
The Permanent Commission of Congress approved, in a second vote, the opinion of the law that seeks to apply a special rate of the General Sales Tax (IGV) of 8% to hair salons and beauty centers, which is set at 18%. In total, there were 15 votes in favor, 8 against and 3 abstentions, which […]
Tax collection recovered in June and advanced by 3.9%, according to Sunat
Extraordinary income from the sale of Enel Generación Perú and debt collection from Telefónica del Perú helped tax collection in the sixth month of the year, the authority noted. Join the Whatsapp channel Tax revenues in June reached S/10,734 million, which means an increase of 3.9% compared to the same period in 2023, reported the […]
Spain removes VAT on olive oil until October and lowers tax on low incomes
He Spanish government approved this Tuesday a new package of anti-crisis measures that includes the elimination of the VAT for him olive oil until October and the reduction of income tax for people with less income. The First Vice President of the Executive and Minister of Finance, María Jesús Montero, detailed to the press after […]
Pension for consumption will bring taxes to the pockets of the AFPs
The consumption pension, adhered to the pension reform of Fujimori, aims to bring the money that Sunat would capture through the VAT into the pockets of the AFPs, warns Noelia Bernal, professor of Economics and researcher at the University of the Pacific. According to the opinion – approved in the first vote in Congress and […]
Reform that raises the minimum age for early retirement is approved
Finally, the Plenary Session of the Congress of the Republic approved, in the first vote, the project to reform the Peruvian Pension System (SPP) promoted by the Fuerza Popular bench, which establishes, among other novelties, the creation of a consumption pension based on of contributions of up to 1% of the VAT. There were 56 […]
Congress approves pension reform project promoted by Fujimorism
With 56 votes in favor, 47 against and 10 abstentions, the Plenary Session of the Congress of the Republic approved in the first vote the replacement text of the Economy Commission referring to the law to modernize the Peruvian Pension System (SPP). The approved pension reform project, which includes allocating a percentage of the VAT […]
Streaming tax in Peru: will users pay more for Netflix, Disney+ and other services?
The Ministry of Economy and Finance (MEF) together with SUNAT, they announced, this Friday, April 26, an initiative in order to collect the general sales tax from Netflix and other streaming services that offer their services in Peru. With the implementation of charging these platforms, the State hopes to collect up to 1,200 million soles […]
Congress aims to reduce VAT for hairdressers to 8%
Bill No. 6611, presented in December last year, was approved by the Congressional Economic Commission. The legislative proposal seeks to reduce the General Sales Tax (IGV) of hairdressers and beauty centers – currently at 18% – to 8%, with a permanent validity in order to economically reactivate the sector and contribute to its formalization. According […]
Ecuador begins April with a VAT increase and fear of possible price speculation
The increase of Value Added Tax (VAT) from 12 to 15% applies from April 1 in Ecuadorin the midst of citizen concern about possible price speculation, but with recognition of the need for resources to finance security actions in the country, hit by violence. On March 15, the president of Ecuador, Daniel Noboa, decreed the […]