- Peru has enacted Law No. 32219 which extends the reduced VAT rate for the tourism and hospitality sectors
- The law modifies previous Law No. 31556 aimed at economic reactivation for micro and small businesses in restaurants, hotels, and tourist accommodations
- The reduced VAT rate is set at 8% for fiscal years 2025 and 2026, and will increase to 12% in 2027
- The 8% VAT rate is effective from the day following the law’s publication until December 31, 2026
- From January 1, 2027, the VAT rate will be 12% until the end of that year
- The Executive Power must adjust the regulations of Law 31556 within 30 days of the new law’s effectiveness
- The Ministry of Economy and Finance is tasked with preparing an annual report on the costs and benefits of the law
- Beneficiary companies are required to train their human capital and promote certification to improve productivity and competitiveness in the sector
Source: busquedas.elperuano.pe
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
