Peru has enacted a set of laws related to certain tax benefits, such as accelerated depreciation for electricity and energy companies, exemption for capital gains and interest on securities issued by Peruvian Government, special VAT rate for hotels and restaurants, and the special installment payment regime.
Law 31556, enacted in November 2022, promotes economic reactivation measures for micro and small businesses in the areas of restaurants, hotels and lodging. The law establishes that the sale of goods and services by these businesses are taxed exceptionally with the VAT rate of 8% until 31 December 2024.
Law 32219 extends the validity of this benefit until 31 December 2026. The rate will be increased to 12% as from 1 January 2027 to 31 December 2027, and the general 18% rate will apply from 1 January 2028 onward.
Source EY
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