PERU Law and Practice Contributed by: Tania Quispe, Martín Ramos, Raquel Cabrera and Ramzi Benzaquen, +Value
Regarding formal obligations, the param - eters for having or not having a Transfer Pric - ing Technical Report were first established in October 2006 by Superintendency Resolution No 167-2006-SUNAT, depending 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 significant change in the field of transfer pricing in Peru. This legal norm modifies the guidelines regarding Transfer Pricing Returns and compliance, establishing the criteria cur - rently in force (see 1.1 Statutes and Regula- tions ). It also mandates submission deadlines for each obligation. In the same vein, Superin - tendency Resolution 014-2018/SUNAT of Janu - ary 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 deduction of costs or expenses related to intra- group services, 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 ser - vice provider; and • reasonable criteria for their allocation. Additionally, other amendments to the transfer pricing rules concern 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 inter - national 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 conditions 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 applicable (taxpayers must provide technical reports as support (Legislative Decree No 1663)). 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; • transactions carried out from, to or through non-co-operative countries or territories with low or no taxation; or
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