PERU Law and Practice Contributed by: Tania Quispe, Raquel Cabrera, Ramzi Benzaquen and Jadhira Unda, +Value
6. Cross-Border Information Sharing 6.1 Sharing Taxpayer Information Currently, Peru has entered into DTTs with the follow - ing countries: Chile, Canada, Brazil, Mexico, South Korea, Switzerland, Portugal and Japan, all of which include clauses for information exchange. Peru has also signed Decision 578 by which it can obtain information from Colombia, Ecuador and Boliv - ia in order to consult and exchange information to establish administrative controls necessary to prevent tax fraud and evasion. Moreover, Peru is a member of the Convention on Mutual Administrative Assistance in Tax Matters, which involves 149 jurisdictions. Peru is also a participant in the Global Forum on Transparency and Exchange of Information for Tax Purposes of the OECD. Regarding information exchange related to transfer pricing, Peru has activated agreements for the auto - matic exchange of information concerning CbCR. As of January 2025, Peru can receive CbCR information from 80 jurisdictions worldwide and can send such information to 98 jurisdictions worldwide. 6.2 Joint Audits Peru does not actively participate in audits of other countries. Nevertheless, it actively participates in international frameworks, including the OECD Guide - lines, DTTs and tax information exchange agreements (TIEAs). Although there is no distinct, standalone legal framework for joint audits, the existing co-operation mechanisms within the OECD, along with its adoption of BEPS Actions, facilitate enhanced audits for mul - tinational enterprises, focusing on compliance with transfer pricing regulations. 6.3 Simultaneous Controls Within Peruvian tax legislation, no special rule has been established for simultaneous controls. 6.4 International Compliance Assessment Programme (ICAP) At the time of writing, Peru had not adhered to nor participated in any ICAP.
7. Advance Pricing Agreements (APAs) 7.1 Programmes Allowing for Rulings Regarding Transfer Pricing The ITL stipulates that the Peruvian tax administra - tion may enter into APAs with taxpayers domiciled in the country, whereby the valuation of various trans - actions falling within the scope of transfer pricing rules is determined based on the methods and crite - ria mentioned in 3. Methods and Method Selection and Application . Furthermore, the ITL specifies that SUNAT may also conclude APAs with other tax admin - istrations of countries with which Peru has entered into an international agreement to avoid double taxa - tion. It is worth reiterating that, currently, Peru has signed DTTs with Chile, Canada, Brazil, Mexico, South Korea, Switzerland, Portugal and Japan. Additionally, Peru is a party to Decision 578 of the Andean Com - munity (CAN), establishing the Regime to prevent dou - ble taxation and prevent tax evasion among member countries: Bolivia, Colombia, Ecuador and Peru. How - ever, to date, Peru has not yet signed any APAs. Peru allows the conclusion of unilateral APAs with resident taxpayers. However, to date, no programmes for bilateral or multilateral APAs have been established in the country. The scope of the APA programme in Peru is limited to transfer pricing matters. To date, it does not cover other tax aspects. 7.2 Administration of Programmes APAs are administered by SUNAT. In relation to the conclusion of APAs with taxpayers domiciled in the country, the ITLR have governed the following impor - tant aspects: • the features of APAs; • the presentation and content of the proposal; • the period for evaluating the proposal; • the acceptance or rejection of the proposal; • the execution and duration of the APAs; • the modification and invalidation of the APAs; • the auditing authority; • the submission of an annual report; and • other relevant matters.
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