PERU Law and Practice Contributed by: Tania Quispe, Raquel Cabrera, Ramzi Benzaquen and Jadhira Unda, +Value
an independent technical framework based on inter - nationally accepted valuation practices in force as of 1 January 2025 and requires a supporting valuation report, which may be requested by SUNAT during tax audits. 3.5 Comparability Adjustments The ITLR establish that it is possible to eliminate dif - ferences (through reasonable adjustments) between the transactions being compared or between the characteristics of the parties conducting them or the functions they perform. To achieve this, consideration must be given, among others, to the following elements, as applicable: • payment terms; • quantity negotiated; • advertising and publicity; • intermediary costs; • packaging; • freight; • insurance; and • physical and content nature. It should be noted that, following the amendments introduced by Supreme Decree No 302-2025-EF, the provisions described in this section, which reflect the content of Article 111 of the Regulations, apply exclu - sively to traditional transfer pricing methods. Conse - quently, such rules do not apply to the use of “other methods”, which are now subject to the autonomous technical framework established under Article 113-B, based on internationally accepted valuation practices and supported by a technical valuation report.
Notwithstanding the above, the Regulations stipulate that in order to conduct a proper comparability analy - sis, certain criteria reflecting the economic reality must be considered. Therefore, in the case of transactions related to the transfer or use of intangible assets, fac - tors such as the contractual typology of the intangible, identification and characteristics, duration, degree of protection, and expected benefits of its use should be taken into account. Additionally, concerning the application of the most appropriate valuation method, the Regulations pro - vide guidelines for determining transfer prices associ - ated with intangible assets. • Regarding the application of the CUPM, it is indicated that it is not suitable for transactions involving the definitive transfer or use of significant intangible assets, nor when the involved intangible products or assets are not comparable in nature or quality. • Additionally, with regard to the RPSM, it is under - scored as an approach for transactions within closely integrated intercompany operations, particularly when significant intangible assets are present, rendering segregation impractical and imprecise. 4.2 Hard-to-Value Intangibles The ITL does not have any special rules regarding the treatment of hard-to-value intangibles. As men - tioned in 1.1 Statutes and Regulations , the Peruvian regulations use the OECD Guidelines as a source of interpretation. 4.3 Cost Sharing/Cost Contribution Arrangements The ITL lacks any special provisions on cost sharing agreements concerning intangibles between related parties. However, Article 117 of the Regulations man - dates that the master file must, at a minimum, include a group policy on intangibles, which encompasses a listing of significant agreements on intangibles entered into between related parties, particularly cost sharing agreements.
4. Intangibles 4.1 Notable Rules
The ITL has not established any notable rules relating to the transfer pricing of intangible assets; however, the Peruvian regulations rely on the OECD Guidelines and the Final Report of Actions 8-10 of the BEPS Plan as sources of interpretation for the treatment of such operations.
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