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April 19, 2022

Peru's President amends VAT Law and Tax Code

The legislative decree eliminates the requirements taxpayers must satisfy to use the value-added tax (VAT) paid on imports as input VAT. It also allows the Peruvian Tax Authority to open a sales-and-income registry for taxpayers and record their transactions.

On 26 March 2022, Peru's President enacted Legislative Decree 1540, amending the VAT Law and Tax Code to make it easier for taxpayers to claim VAT paid on imports as input VAT and for the Peruvian Tax Authority to open a sales-and-income registry on behalf of taxpayers.


On 27 October 2021, Peru's President asked Congress for the power to enact tax measures. On 27 December 2021, the Congress approved the President's request to enact different tax measures, including amendments to the VAT Law and Tax Code. For information on the approval of the President's request to enact certain tax measures, see EY Global Tax Alert, Peru enacts law allowing the President to enact various tax measures, dated 4 January 2022. 

Legislative Decree 1540


Effective 27 March 2022, taxpayers may use VAT paid on imports as input VAT without having a copy of the document from the Tax Authority certifying the VAT was paid and was approved by the customs agent.

Legislative Decree 1540 also authorizes the Peruvian Tax Authority to open a sales-and-income registry for taxpayers that fail to open a registry. The Tax Authority will record all of a taxpayer's transactions, as well as debit notes and credit notes electronically issued by the taxpayer. Taxpayers may adjust the information recorded by the Tax Authority. This measure will be effective 1 July 2024.

Tax Code

Beginning 1 July 2024, Legislate Decree 1540 will authorize the Peruvian Tax Authority to issue payment orders if it determines tax is unpaid as a result of its verification of the electronic sales-and-income registry it opened on behalf of the taxpayer.


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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