Congress enacts law establishing special income tax regime

He Congress published Law No. 32201, which establishes an exceptional income tax regime to promote the formalization of the economy and expansion of the tax base of taxpayers regarding undeclared income as of December 31, 2022.

However, Congress, due to a populist attitude, avoided repealing the interest rate cap rule.

In that sense, the rule stipulates that it seeks the “expansion of the tax base of taxpayers domiciled in the country who decide to declare or repatriate and invest in Peru their undeclared income, in order to regularize their tax obligations generated until December 31 of 2022”.

To this end, it is established that the new exceptional regime “is applicable to income taxed with income tax that had not been declared or whose corresponding tax had not been withheld or paid to the treasury.” Likewise, it points out that “it is applicable to any unjustified increase in assets that said taxpayers may have until the indicated date.”

Who will be able to benefit from the rule?

The law indicates that “natural persons, undivided estates and conjugal partnerships that chose to pay taxes as such, who in any taxable year prior to 2023, would have had the status of domiciled in the country” may benefit from this exceptional regime.

Likewise, it establishes that “money, goods or rights that represent undeclared income that, as of December 31, 2022, have been found in countries or jurisdictions classified by the Financial Action Task Force as High Risk or Non-Cooperative, will not be eligible for this rule.” “. Furthermore, natural persons who at the time of placement have a conviction may not be allowed either.

Finally, he points out that “with acceptance of the exceptional regime, all the requirements will be understood to have been fulfilled.”
tax obligations of the income tax corresponding to undeclared income.” In addition, it indicates that “the Sunat will not be able to determine tax obligation linked to said income referred to the income tax, nor determine infractions or apply sanctions, nor charge interest moratoriums or apply the accrued Consumer Price Index linked to said income.”

The norm has been signed by the president of Congress, Eduardo Salhuanaas well as the vice president of Parliament, Patricia Juárez.

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