January 9, 2020
Peru extends tax benefits for agricultural sector
On 29 December 2019, Peru enacted Urgent Decree 043-2019, which extends the tax benefits for the agricultural sector enacted as part of Law 27360, “Law for the Promotion of the Agricultural Sector,” from 31 December 2021 to 31 December 2031. The tax benefits include a preferential income tax rate of 15%, instead of the general income tax rate of 29.5%. The Urgent Decree is effective 1 January 2020.
For additional information with respect to this Alert, please contact the following:
Ernst & Young Asesores S.C.R.L, Lima
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific