PERU Law and Practice Contributed by: Tania Quispe, Raquel Cabrera, Ramzi Benzaquen and Jadhira Unda, +Value
• the elements or circumstances to be taken into account for the comparability analysis; • the transfer pricing methods; • the determination of the interquartile range and the calculation of the median; • the necessary documentation to support the prices; • the rules on advance pricing agreements; and • the minimum information to be included as part of the Transfer Pricing Technical Report. Regarding formal obligations, the parameters for hav - ing or not having a Transfer Pricing Technical Report were first established in October 2006 by Superin - tendency Resolution No 167-2006-SUNAT, depend - ing on the level of income and the amount of related party and non-co-operative countries or territories with low or no taxation transactions. Subsequently, on 30 May 2013, Superintendency Resolution No 175- 2013/SUNAT was published, which also established the conditions for taxpayers to file the annual Transfer Pricing Informative Return through Virtual Form No 3560. However, in order to adapt local regulations to the new standard generated from the 15 Actions of the OECD BEPS project, Decree-Law No 1312 entered into force on 1 January 2017, representing a signifi - cant change in the field of transfer pricing in Peru. This legal norm modifies the guidelines regarding Transfer Pricing Returns and compliance, establishing the cri - teria currently in force (see 1.1 Statutes and Regula- tions ). It also mandates submission deadlines for each obligation. In the same vein, Superintendency Resolu - tion 014-2018/SUNAT of January 2018 established, among other things, the means for filing the Local File: Virtual Form No 3560, currently in use. It is important to add that Decree-Law No 1312 also established the necessary conditions for the deduc - tion of costs or expenses related to intra-group ser - vices, such as: • compliance with the Benefit Test and the provision of documentation and information to demonstrate the actual provision of the service; • the nature of the service; • the real need for the service;
• the costs and expenses incurred by the service provider; and • reasonable criteria for their allocation. Other amendments to the transfer pricing rules con - cern the treatment of imports and exports (Legislative Decrees Nos 1381 and 1537) and the rules applicable to exported or imported goods with a known price in the international market (Supreme Decree No 327- 2022-EF). Lastly, the most recent amendments to the local rules introduced key changes with effect from 1 January 2025, which can be summarised as follows: • advanced pricing agreements (APAs) can now be applied retroactively (roll-back) if relevant condi - tions are met (Legislative Decree No 1662); and • alternative valuation methods like discounted cash flow and multi-period excess earnings (MPEEM) are allowed when traditional ones are not applica - ble (taxpayers must provide technical reports as support (Legislative Decree No 1663). Additionally, Supreme Decree No 302-2025-EF, pub - lished on 17 December 2025, amended the Regula - tions to the ITL to implement these legislative chang - es. The decree clarifies that the technical provisions set out in Articles 111, 114, and 115 of the ITLR, apply exclusively to traditional transfer pricing methods. It also introduced new Article 113-B, which establishes the regulatory framework for the use of “other meth - ods”. Under this framework, such methods must be based on internationally accepted valuation practices in force as of 1 January 2025 and supported by a technical valuation report that SUNAT may request during tax audits. 2. Definition of Control/Related Parties 2.1 Application of Transfer Pricing Rules Peruvian transfer pricing rules are applicable to: • transactions carried out by taxpayers with their related parties;
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