- Estudio Alvarez Calderón
2020 TAX EXEMPTIONS
The Administration, through the publication of Emergency Decrees, extends the exemption of various taxes, as mentioned below:
1. Emergency Decree No. 003-2019 extends until October 12, 2020 the exemption of the general sales tax (IGV), on import and/or sale of books and related editorial products.
2. Emergency Decree No. 005-2019 With the purpose of promoting the liquidity of the stock market, provides for the exemption of the IR until December 31, 2022 with respect to the income from the sale of shares and other securities representing shares, provided that these operations are carried out through a centralized negotiation mechanism supervised by the Superintendence of the Securities Market (SMV), and provided that the daily negotiated amount is 6 tax units (UIT), before it was 4 UIT), 5% debt securities, including bonds convertible into shares and 45% other securities (previously 15%).
3. Emergency Decree No. 021-2019, the validity of Law No. 27623 is extended, which provides for the return of the general sales tax (IGV) and municipal promotion tax (IPM) to the holders of the mining activity during exploration stage, and Law No. 27624, which provides for the return of the IGV and IPM for hydrocarbon exploration.
4. Emergency Decree No. 023-2019 extends for three more years (December 16, 2022) tax exemptions to goods that are repatriated to the country. With this, Peruvians returning to the country will be exempt from the payment of any taxes that are serious in detention in the country of household goods, of a motor vehicle (up to 50,000 dollars) and, of instruments, machinery, equipment, capital goods and other goods that they use in the performance of their work, profession, trade or business activity, up to a maximum of $ 350,000.
5. Emergency Decree No. 024-2019 extends until December 31, 2020 the validity of tax benefits and exemptions of the products contained in Appendices I and II of the IGV and ISC Law, as well as the issuance of electronic money made by the companies issuing electronic money. Among the goods included in Appendix I are primary products for domestic consumption, products intended for the production of the textile industry, among others. While Appendix II contains a list in which the social, cultural, transport, savings and investment aspects predominate, and for the facilitation of foreign trade. Additionally, in order to contribute to the principle of reciprocity that rife between relations between States, the refund of taxes that taxes the acquisition with donations from abroad and importation of diplomatic missions and others is extended.
6. Emergency Decree No. 025-2019 extended for one more year the validity of the exemption of the concepts provided for in article 19 of the Single Ordered Text (TUO) of income tax, among others, to religious institutions, affected foundations and nonprofit associations