Peru - Modify The Regulations Of The Income Tax Law: Formal Transfer Pricing Obligations

; posted on
November 20th, 2017

The Peruvian Government published the regulations for the new transfer pricing documentation that have been implemented in the Peruvian legislation.

The official newspaper "El Peruano" has announced Supreme Decree No. 333-2017-EF where they are regulating the amendments on the formal obligations of transfer prices decreed with DL 1312 on December 31, 2016. the modification of articles 116 and 117 and section 1) of subsection I of article 118 of the Regulations.

In Article 116 - Obligation to Submit Informative Affidavits, Local Report, Master Report, and Country by Country Report, defines define, Group, Multinational Group, Systematic Non-Compliance, Group Member, Matrix, Representative Matrix and those required to submit the informative affidavit Country Report by Country

In Article 117 - Minimum Information To Be Recorded In The Informative Sworn Statements Local Report, Master Report And Country by Country Report. The minimum information that these declarations must contain is defined.

The informative affidavit Local Report

  1. Regarding the taxpayer
  2. Regarding the transactions of the taxpayer with related parties made in the year in which the local report informative affidavit is presented
  3. Regarding the taxpayer's financial information.

The Local Report informative affidavit filed by taxpayers who carry out transactions from, to or through countries or territories with low or no taxation must contain the minimum information indicated above. When the taxpayer is also obliged to present the informative affidavit Master Report and it contains part of the information referred to in this subsection, it will be sufficient to refer to said statement, specifying what that information is.

The informative affidavit Master Report

  1.  Organizational structure
  2. Description of the business or business of the group members, indicating, and
  3. Description of the group's policy on intangibles
  4. Financial activities of the group
  5. Financial and fiscal position of the members of the group.

The informative affidavit Country by Country Report

  1. General information
  2. Identification of each member of the multinational group
  3. Any additional information or explanation.

About Article 118 - Advance Price Agreements It is indicated about the presentation of annual report that must be submitted by the taxpayers who have signed said agreement. The SUNAT superintendence resolution will approve the form and conditions under which the report must be presented.

Supplementary provisions

The amendments become effective the day after their publication in the Official Gazette El Peruano and that SUNAT may dictate the provisions that are necessary for the purpose of filing informative affidavits.

SUNAT is also empowered to indicate what information the information referred to in the regulation should be contained in the informative affidavit Local Report submitted by the taxpayers that it determines.

The informative affidavit Local Report must also contain the Organizational Structure of the group (numeral 1 of subsection b) of article 117 of the Regulation), in case the taxpayer is not obliged to present the informative affidavit Master Report regarding a specific year . In any case, said information must be contained in the informative affidavit Local Report corresponding to the 2016 fiscal year.

The presentation of the informative affidavit Local Report that corresponds to the year 2016 will be required from the year 2017.

The presentation of the informative affidavits Report Master and Country Report by Country that will be required in the year 2018 corresponds to the year 2017.

Information referred to in section (ii) of numeral 2 of subsection a) of article 117 of the Regulations (Benefit Test) will not be required for the presentation of the informative affidavit Local Report corresponding to the year 2016.

Source: Market Facilitators S.A.C. is LATAM Alliance Partner in Peru.


Transfer Pricing Associates introduces TPA LATAM Desk. TPA LATAM Desk specialises in the development and implementation of LATAM Transfer Pricing systems to assist multinational enterprises (MNEs) to proactively and efficiently manage and implement their transfer pricing policies in a cost-effective, practical and swift manner; ensuring compliance with local transfer pricing legislation across LATAM.

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