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July 18, 2024 Peruvian Tax Authority incorporates new scenarios as high-risk schemes under GAAR
On 9 July 2024, the Peruvian Tax Authority published on its official website an updated version (third version) of the list of high-risk schemes for tax planning that could be challenged under the Peruvian GAAR. Background In February 2020, the Peruvian Tax Authority published the initial version of the list with five initial tax planning situations (high-risk schemes) that would generate the application of the GAAR. In October 2022, the Peruvian Tax Authority updated the mentioned list (second version) by incorporating 13 new scenarios that are considered as high-risk. Updated list The Peruvian Tax Authority has now updated the second version of the list with the publication of a third edition, which includes the 13 schemes of the previous versions and incorporates 11 new situations. Specifically, the updated list includes the following 24 high-risk schemes that could be challenged under the Peruvian GAAR:
Taxpayers engaging in the respective transactions could be subject to challenge under Peru's GAAR.
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