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13 November 2018

Peru issues regulations for the implementation of OECD Common Reporting Standard

On 10 November 2018, Peru issued Supreme Decree 256-2018-EF, which contains the regulations for implementing the automatic exchange of financial information according to the Common Reporting Standard (CRS) of the OECD.1

Supreme Decree 256-2018-EF establishes the information financial institutions must report to the Peruvian Tax Authority for automatic exchanges under international agreements signed by Peru, as well as the due diligence procedures financial institutions must follow for reporting purposes.

Peru has committed to undertake the first automatic information exchanges by 2020. Peru has already ratified the Convention on Mutual Administrative Assistance in Tax Matters, which entered into force in Peru on 1 September 2018.

Endnote

1. Organisation for Economic Co-operation and Development.

For additional information with respect to this Alert, please contact the following:

Ernst & Young Asesores S.C.R.L, Lima
  • Roberto Cores | roberto.cores@pe.ey.com
  • Ramón Bueno-Tizón | ramon.bueno-tizon@pe.ey.com
Ernst & Young, LLP, Latin American Business Center, New York
  • Ana Mingramm | ana.mingramm@ey.com
  • Enrique Perez Grovas | enrique.perezgrovas@ey.com
  • Pablo Wejcman | pablo.wejcman@ey.com
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
  • Jose Padilla | jpadilla@uk.ey.com
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
  • Raul Moreno, Tokyo | raul.moreno@jp.ey.com
  • Luis Coronado, Singapore | luis.Coronado@sg.ey.com 

ATTACHMENT

Document ID: 2018-6323

 
 

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