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 […]
Tag: VAT
Gerardo López Gonzales is appointed as the new superintendent of the Sunat
Before his appointment, the new head of Sunat served as National Mayor of Process Management of the entity. Join the La República WhatsApp channel Price of the dollar in Peru today: what is the exchange rate for this Tuesday, March 5? Banco de la Nación, March 2024: check HERE the salary and pension payment schedule […]
Tax collection grew after 10 months, advancing 3.4% in January
The relative improvement in economic activity in December 2023 would explain the result, Sunat reported. Join the La República WhatsApp channel Price of the dollar today in Peru: what is the exchange rate for this Saturday, February 3 How much should I earn per month in 2024 so that my fifth category rent is not […]
Chile launches mining tax hike
After several years of discussion, as of January 1, 2024, a new mining royalty came into effect in Chile with which US$1,350 million will be collected annually—0.45% of its GDP—from large companies. With this, taking advantage of a new supercycle in the prices of metals such as copper, which as a result of the pandemic […]
Congress attacks tax revenues
Thanks to Congress, the State will have to pay more interest to companies when refunds are made for excessive or improper tax payments and for withholdings or non-applied collections of VAT and updating of fines. In good faith: currently a default rate of 0.9% (TIM) is applied when a taxpayer adheres to the criteria of […]
Tax revenues to November fall 12.7% due to low GDP
The central government’s tax revenues – excluding tax refunds – reached S/12,328 million in November. Although this figure exceeds by S/113 million what was recorded in the same month of 2022, it still represents a drop of 2.6% in real terms, according to information from Sunat. In this way, there have been nine consecutive months […]
Tax revenues fell 2.6% in November, according to Sunat
The National Superintendency of Customs and Tax Administration (Sunat) reported that, during the month of November, the tax revenues of the Central Government—discounting tax refunds—reached S/12,328 million. Although this figure is higher by S/113 million in the same month of 2022, it still implies a drop of 2.6% in real terms. According to the collecting […]
Book Law: Government formalizes law that permanently exempts texts from VAT
The Executive Branch promulgated this morning Law 31893“of strategic measures and economic and tax provisions for the strengthening and positioning of the book and reading ecosystem”, which promotes reading through tax exemptions, such as the General Sales Tax (IGV), for the dissemination from books. Some of the benefits include the tax refund of the VAT […]
September collection was the second worst in 2023
In September, tax collection recorded its second largest drop so far in 2023 (-18.7%), only surpassed by that obtained after the ravages of Cyclone Yaku in April (-26.8%), and there are no signs of improvement for the last quarter of the year. In the annual snapshot, the decline between January and September amounts to -14.3%, […]
Tax collection fell 13.8% until August
The net tax revenues of the Central Government (discounting tax refunds) accumulated S/100,335 million until August of this year. This represents a drop of 13.8% compared to the amount collected in the same period of 2022, according to data from the National Superintendence of Customs and Tax Administration (Sunat). According to the collecting entity, in […]