Peru extends VAT exemption for specific goods and services and introduces a temporary early VAT recovery regime

• Law 31651, enacted on 29 December 2022, has extended the Value-Added Tax (VAT) exemption for specific goods and services until 31 December 2025.
• Law 31661, enacted on 30 December 2022, introduced an exceptional early VAT recovery regime applicable until 31 December 2024 for taxpayers with a minimun investment of US$2 million.

Source EY