Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

March 9, 2023

Peru amends regulations on temporary capital gain tax exemption for securities transferred through the Lima Stock Exchange by individuals

  • The regulations on the temporary exemption from capital gain tax for the transfer of securities carried out through the Lima Stock Exchange (LSE) by individuals have been amended to establish the procedure for calculating the exempted amount.


In 2015, Peru enacted Law 30341, which temporarily exempts from capital gains tax (CGT) the transfer of securities listed and traded through the LSE if the following requirements are met:

  • Securities must be listed and traded through the LSE.

  • In any given 12-month period, the taxpayer and its related parties must not transfer more than 10% of the shares issued by the company whose shares are being sold. In the case of American Depositary Receipts and Global Depositary Receipts, they should be considered the underlying shares.

  • Securities should meet the liquidity threshold to be considered “stock market securities.”

On 30 December 2022, Law 31662 extended the exemption through 31 December 2023, subject to the following requirements:

  • The exemption is now only applicable for individuals.

  • The exemption granted now for individuals is only up to 100 Tax Units (approximately US$130,260). Any excess over this threshold is taxable in Peru.

Supreme Decree 027-2023

On 1 March 2023, Supreme Decree 027-2023 amended the regulations of Law 30341 amended by Law 31662, establishing the following:

  • The exemption is applicable for resident and nonresident individuals.

  • The exempted amount of 100 tax Units (approximately US$130,260) will be computed independently for each individual.

  • For each transaction it should be established whether there is a capital gain or a loss.

  • For those transactions triggering a capital gain subject to the exemption, the exempted amount not deducted in the previous months of the fiscal year shall be deducted until it is exhausted. If there is an outstanding balance, the withholding tax shall be made only with respect to the transactions that have exceeded the exempted amount.

Supreme Decree 027-2023 is effective as of 2 March 2023, the day following its publication in the Official Gazette.


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

Ernst & Young Asesores Empresariales 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


The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.


Copyright © 2024, Ernst & Young LLP.


All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.


Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.


"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.


Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or Please refer to the privacy notice/policy on these sites for more information.

Yes, I accept         Find out more