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flag Peru Peru: Business Environment

In this page: Accounting Rules | Tax Rates | Intellectual Property | Legal Framework | Standards | Business Practices


Accounting Rules

Tax Year
The fiscal year begins on 1 January and ends on 31 December of the same year.
Accounting Standards
Accounting Regulation Bodies
Accounting Reports
As the structure of accounts is inspired by various models, it is difficult to establish a precise plan of their presentation. Nevertheless, companies have to publish a balance sheet, a profit and loss account and annexes which should be guaranteed by an independent auditor.
Publication Requirements
Accounting must be kept in accordance with current standards and financial statements must be prepared annually.
Professional Accountancy Bodies , National Directorate of Public Accounting
Certification and Auditing
The certification of accounts became compulsory in Peru in 1974, with the creation of the "Comision Nacional de Empresas y Valores". Annual audits by independent public accountants are mandatory in certain circumstances (when the corporation qualifies as a public corporation, when established by special legislation, etc.).
Several companies certified by the Technical Regulation Commission of INDECOPI are authorized to issue a certificate of conformity with Peruvian standards. These companies are the following: INASA, SGS del Peru, BSI Inspectorate Peru, EQUAS S.A. and SG Nortek.
You can contact an external auditor:Deloitte, KPMG, Ernst & Young, PricewaterhouseCoopers.
Accounting News
El Peruano
El Comercio
Gestion on line
La Industria
The Daily Journal Online
Best companies in Peru

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Tax Rates

Consumption Taxes

Nature of the Tax
Value added tax (VAT) - Impuesto General a las Ventas (Local name)
Tax Rate
VAT standard rate is 18%.
Reduced Tax Rate
Some exemptions (0%) for foodstuffs, urban passenger transport, the international transport of cargo, life assurance polices, some financial products, books, construction and maintenance of ships.
Other Consumption Taxes
Peru has established a consumption tax, "Impuesto Selectivo al Consumo", for the sale and import of goods such as cigarettes (125%), alcoholic drinks (20%); sparkling and mineral water, luxury items, fuel (fixed sum), gambling and betting.

Learn more about Service Providers in Peru on, the Directory for International Trade Service Providers.

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Corporate Taxes

Company Tax
Capital Gains Taxation
Capital gains are generally included as income and taxed at the normal corporate rate.
Main Allowable Deductions and Tax Credits
Deductions are possible for: interest on loans, insurance premiums, leases of aircraft and ships, maritime freight, and fees for passing through the Panama channel; depreciation; loss; payment of royalties to no non-domiciled affiliates; some taxes; start-up costs; employee's retributions and health insurance premiums; vehicle expenses.
Other Corporate Taxes
Municipal authorities tax real estate, social security, transfer of real estate, temporary Tax on net Assets, Financial transactions tax.
Other Domestic Resources
Consult Doing Business Website, to obtain a summary of the taxes and mandatory contributions.

Country Comparison For Corporate Taxation

  Peru Latin America & Caribbean United States Germany
Number of Payments of Taxes per Year 9.0 30.0 11.0 9.0
Time Taken For Administrative Formalities (Hours) 293.0 367.0 175.0 207.0
Total Share of Taxes (% of Profit) 40.5 47.2 46.7 46.8

Source: Doing Business - Last Available Data.

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Individual Taxes

Tax Rate

Individuals income tax Progressive rate which is made according to a system of annual units. One unit is equal to PEN 3,850.
0 to 5 units 8%
5 to 20 units 14%
20 to 35 units 17%
35 to 45 units 20%
Beyond 45 units 30%
Allowable Deductions and Tax Credits
The taxpayers benefit from various deductions according to the nature of their income (salary, pension, etc.). For example, the employees of a company benefit from tax relief of 20%.
Special Expatriate Tax Regime
No special expatriate tax regime.

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Double Taxation Treaties

Countries With Whom a Double Taxation Treaty Have Been Signed
See the list of the conventions signed
Withholding Taxes
Dividends: 6.8%, Interests: 4.99%/30%, Royalties: 30%

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Sources of Fiscal Information

Tax Authorities
Other Domestic Resources
Peru - CIAT

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Learn more about Taxes and Accounting in Peru on, the Directory for International Trade Service Providers.

Intellectual Property

National Organizations
Peru signed the  Paris Convention concerning the protection of industrial property and the agreement which establishes the World Intellectual Property Organization (WIPO).
The INDECOPI is the Peruvian organization responsible for the protection of patents and trademarks.
Regional Organizations
As a member of the Andean Community, Peru is subject to the legislation of the Andean Community regarding intellectual property which controls industrial property (Régimen común de Propiedad industrial), copyright and related rights.

National Regulation and International Agreements

Type of property and law Validity International Agreements Signed
Industrial Property Law (Legislative Decree No. 823)
20 years
Industrial Property Law (Legislative Decree No. 823) 23  April, 1996
10 years, renewable for consecutive periods of 10 years
Industrial Property Law (Legislative Decree No. 823)
10 years  
Industrial Property Law (Legislative Decree No. 823)
20 years WIPO Copyright Treaty
Industrial Models
Industrial Property Law (Legislative Decree No. 823)
10 years  

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Legal Framework

Independence of Justice
Third party opinion believes Peru’s judicial system is not completely independent though the government is trying hard to change this. General perception of the judicial system is that it is inefficient, overloaded and riddled with bureaucratic and political influence.
Equal Treatment of Nationals and Foreigners
It is considered that foreign nationals cannot expect an impartial trial from the country’s judicial system.
The Language of Justice
There are two judicial languages used in the country: Spanish and Quechua.
Recourse to an Interpreter
Having an interpreter is possible.
Sources of the Law and Legal Similarities
The main source of the law in Peru is the constitution of 1993. The country’s legal system is based on a civil law system. Peru accepts compulsory International Court of Justice (ICJ) jurisdiction but with reservations.
Checking National Laws Online
Teleley (Portal Legal del Perú)
Peruvian legislation (Digital archives)

Learn more about Lawyers and Legal in Peru on, the Directory for International Trade Service Providers.

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National Standards Organizations
INDECOPI, (Institute for the defense of competition and protection of intellectual property ).
Integration in the International Standards Network
The National Institute for the Defense of Competition and Intellectual property (INDECOPI) is integrated in the Pan American Commission for Technical Standards at the regional level, and is a member of the International Organization for Standardization and the International Electrotechnical Commission.
Classification of Standards
The national standards are the NTP. For more information consult the INDECOPI website.
Online Consultation of Standards
All information about Peruvian standards can be found on the INDECOPI website.
Certification Organizations
INDECOPI Institute for the defense of competition and protection of intellectual property.

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Business Practices

General Information
IDRC, Situation and Promotion of SMEs in Peru
Doing Business, (World Bank)
Opening Hours and Days
Banks are open from Monday to Saturday, from 9 am to 1 pm and from 3 pm to 6 pm Shops are open from Monday to Saturday from 9 am to 8 pm. Public administrations from Monday to Friday from 9 am to 5 pm (in winter) and from 8 am to 3 pm (in summer).

Public Holidays

New Year's Day 1 January
Monday Thursday and Good Friday variable
Labor Day 1 May
Feast of St Peter and St Paul 29 June
Independence Day celebrations 28 and 29 July
Saint Rosa of Lima 30 August
Angamos Battle 8 October
All Saints Day 1 November
Immaculate Conception 8 December
Christmas Day 25 December
Holiday Compensation
If a public holiday falls on a Saturday or Sunday, the Monday is a holiday instead.

Periods When Companies Usually Close

Summer Company activity slows down during the summer over a period between the end of December and the end of February.

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Last Updates: January 2015