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21 January 2021

Peru: New regulations outline financial information banks must report to Peruvian tax authority

In regulations (Supreme Decree 430-2020-EF, released 31 December 2020), the Peruvian Tax Authority outlined what financial information banks must report to the tax authority, including:

  • Account balances and/or accumulated amounts or averages of PEN10,000 or more (approximately US$2,857)
  • The type of account
  • Information on the account holder (name, ID number, address, place of incorporation (for companies))
  • The type of currency in the account
  • The account holder’s Tax ID

The regulations are effective as of 1 January 2021. Now that the regulations are effective, banks must begin reporting the requisite information monthly.

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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 Abogados, Latin America Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

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Document ID: 2021-5075

 
 

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