NewsCase StudiesEvents

Peru Paves The Way For Latin America’s Expansion In 2016

Also in the news...

Carry out international road haulage

What UK goods vehicle operators need to do to carry out international road haulage.

Import firewood into England, Scotland or Wales

Find out how to import firewood, such as logs and kindling, into England, Scotland and Wales (Great Britain).

How to check if you can delay customs payments and declarations

If you’re a business that currently buys goods from or sells goods to countries outside the UK, or are planning to trade with Europe from January 2021, HMRC’s new tool can help you identify ways you might be able to make the customs process easier for cheaper for your business. This short video shows you how to use the tool.

How can a customs intermediary or agent help me?

If you’re a UK business thinking about moving goods into or out of the UK , this video is here to help you understand how customs intermediaries or agents can help you. For more information have a look at the guidance available on gov.uk.

What are commodity codes?

If you're buying or selling goods abroad, you need to work out the amount of duty or VAT you owe. This short video tells you how to find out the ‘commodity code’ classification for your goods, using our Trade Tariff tool. Find out more on GOV.UK

Peru Paves The Way For Latin America’s Expansion In 2016

Back to News

Peru is one of the top performing economies in Latin America, its recipe for growth being structural reforms combined with strategic alliances.

The Peruvian economy has bucked the trend in Latin America and continues to grow; we take a look at what changes helped increase growth last year and those expected to take place in 2016.

The government has an ongoing commitment to provide political, economic and social stability, and actively participates in the Pacific Alliance – an initiative to discuss the opportunities and challenges for boosting competitiveness in Peru, Mexico, Colombia and Chile. Collectively the four countries bring in more than 40% of Latin America’s foreign direct investment.

Another significant step for Peru was the change made to corporate income tax at the beginning of 2015; until 2019 the rate will be reduced gradually to 26%from 30%.

Investors: keep an eye on Peru during 2016

In 2016, Peru’s goals are to lift productivity, deepen foreign trade, promote private investment and improve infrastructure for better quality services and increased job opportunities.

In terms of technological progress the country took a step towards the digitization of processes by incorporating a new method to submit the monthly VAT declaration and the income tax payments. A virtual form is available since 1 January 2016 to taxpayers with access to the Peruvian Tax Administration (SUNAT) platform. The Virtual Form may be used only by those taxpayers who already keep their Sales, Income and Purchasing records in SUNAT’s platform.

The International Monetary Fund also recommends Peru implement structural reforms and targets public spending on infrastructure in order to strengthen the country’s prospects.

A key event in the first half of 2016 will be the presidential election; the public will be looking at policies around economic variables and further development opportunities.

How TMF Group can help

TMF Group Peru has a team of specialists serving clients locally and internationally. Our core business is to coordinate essential corporate secretarial services to reduce risks, stay compliant, control costs and simplify operations.


You are not logged in!

Please login or register to ask our experts a question.

Login now or register.