- Peru issued Legislative Decree No. 1714, revising advance VAT (IGV) withholding rules for imports, with a 10% rate now applying in certain high-risk cases.
- The 10% rate targets importers with repeated non-compliance in tax filings or those classified as non-operational by SUNAT.
- The decree updates definitions, procedures, and thresholds in Law No. 29173 and clarifies enforcement based on the cargo manifest.
- The changes aim to strengthen tax compliance and better target higher-risk importers.
- The new rules take effect on the first business day of the month after publication in the official gazette.
Source: regfollower.com
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.
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