Corporate taxation

The corporate tax rate is

2013 30.00%
2014 30.00%
2015 28.00%
2016 28.00%
2017 29.50%
2018 29.50%
2019 29.50%
2020 29.50%
2021 29.50%
2022 29.50%
2023 29.50%

Different rates may apply to certain activities under special regimes. Mining companies are subject to a “Mining Royalty”. Dividends paid by Peruvian companies to non-resident companies are taxed at 5% of the distributed amount.

Companies incorporated abroad are considered as non-domiciled in Peru for tax purposes and thus subject, in most cases, to an income tax rate of 30% over the gross Peruvian-source income. As a general rule, foreign companies are not allowed to deduct expenses and are taxed on gross income.

Transfer pricing

Article 32-A(4) of the Income Tax Law establishes that market value, for transactions between related parties or made from, to or through countries or territories with low or zero taxation, shall be the prices and amount that would have been agreed with or between independent parties in comparable transactions, under the same or similar conditions. According to Article 32-A, subsection h) of the Income Tax Law, OECD TPG are used as source of interpretation, as long as they do not oppose to the provisions approved by that law.


Transfer Pricing Case Law

Case NameDescriptionDateCountryKeywords