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Second opinion] Has the tax rate in Peru on capital gains…

Second opinion] Has the tax...
Second opinion] Has the tax rate in Peru on capital gains for non residents recently been changed? I heard it is now 5% and no longer 30%.
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Answered in 2 hours by:
6/20/2017
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,395
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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That's right. As a means to reactivate the economy and stimulate investment in Peru, the Kuczynski administration has recently passed new changes in income tax law, which will help relieve the tax burden on people and companies. The objective behind these changes, effective on January 1st 2017, is to make the country a more attractive destination in the region for entrepreneurs abroad.

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Consequently, the Peruvian tax on capital gains, mainly the 30% tax rate which applied to the revenue obtained by non-domiciled persons and undivided successions from real estate sales, has indeed been lowered to 5%.

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It should also be noted that non-domiciled persons can pay the aforementioned tax rate, as applied to net revenue instead of gross revenue.

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This means that the application of the tax rate can be limited to the profit resulting from the sale, after deducting the acquisition costs of the real estate property from the gross revenue obtained by the sale.

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However, you're required to file an application with the National Superintendence of Taxes and Customs (SUNAT) requesting a certificate for the Return of Invested Capital; and notify the SUNAT within 30 days of the ensuing sale.

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Additionally, the Kuczynski administration has also decided to lower the tax rate for dividends and profits, obtained by domiciled persons and undivided successions. As such, this tax rate stood at 6.8% and was projected to increase up to 9.3% by 2019, however with the new law in place this tax rate has also been lowered to 5%.

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice on three continents since 1986.…

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,395
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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