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20 August 2021

Peru creates a new tax-free zone

Certain activities in the district of San Ignacio, Cajamarca will not be subject to taxes.

On 14 August 2021, Peru enacted Law No. 31343, creating a new tax-free zone in Peru — Zona Franca de Cajamarca (ZOFRACAJAMARCA) in the district of San Ignacio, Cajamarca (northern Peru).

The following activities will not be subject to corporate income tax, value-added tax, excise tax, customs duties, and any other taxes imposed by the Federal Government and local governments:

  • Manufacturing
  • Commercialization
  • Industrial activities
  • Agri-business
  • Maquila factories
  • Services

Law No. 31343 went into effect on 15 August 2021. The Executive Power is expected to issue regulations implementing the law within the next 30 calendar days.

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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

Document ID: 2021-5879

 
 

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