Peru

Corporate - Other issues

Last reviewed - 10 February 2025

Foreign Account Tax Compliance Act (FATCA)

A Model 1 Intergovernmental agreement (IGA) is treated as 'in effect' by the United States (US) Treasury as of 1 May 2014. The US and Peruvian governments have reached an agreement in substance, and Peru has consented to disclose this status. In accordance with this status, the text of such IGA has not been released, and financial institutions in Peru are allowed to register on the FATCA registration website consistent with the treatment of having an IGA in effect, provided that the jurisdiction continues to demonstrate firm resolve to sign the IGA as soon as possible.

Peru as a full member of the OECD

Peru is currently working on becoming a full member of the OECD. 

Ultimate Beneficial Owner (UBO) Report

As of 2019, legal persons and entities are required to identify, obtain, update, declare, retain, and provide information about their ultimate beneficiaries and, in this regard, they have to submit the UBO Report.

The Peruvian tax administration established that any legal person considered as a principal taxpayer in Peru had until 23 December 2019 to submit the Report. Furthermore, the Peruvian tax administration has provided subsequent filing schedules as follows : 

Net Income (Tax Units) 

Filing Year 

Filing Period 

Greater than 1,000 (2021 income) 

2022 

May 2022 

500 to 1,000 (2021 income) 

2022 

August 2022 

Greater than 300 (2022 income) 

2023 

May 2023 

RUC registered by 30 Sep 2024 

2024 

September 2024 

New requirements for companies not previously covered: 

Above 100 (2024 income) 

2025 

October 2025 

50 to 100 (2024 income) 

2025 

December 2025 

25 to 50 (2024 income) 

2026 

July 2026 

10 to 25 (2024 income) 

2026 

September 2026 

Up to 10 (2024 income) 

2026 

November 2026 

Recently incorporated entities* 

2026 

November 2026 

 

For threshold calculations, companies must use the Tax Unit (UIT) value corresponding to the same year as the income being evaluated. 

The identification of these beneficiaries is based on the following criteria: (i) the individual who directly or indirectly owns at least 10% of the legal entity’s shares, (ii) the individual who, acting individually or with others as a decision unit, has power to designate or remove the majority of the administrative, management, or supervisory bodies, or has decision-making power in the financial, operational, and/or commercial agreements that are adopted, or (iii) when there is no possibility to identify an individual by criteria (i) and (ii), the ultimate beneficiary of the legal entity that should be reported is the individual within the company with the highest administrative position.

Special Regime for Tax Debts

To provide greater flexibility to taxpayers in fulfilling their tax obligations, a Regime was approved to establish a special instalments payment plan for tax debts. The tax debts that can be eligible for the Regime are the ones generated until December 2023. The Regime offers three payment options: cash payment, summary payment, and instalments payment.