When doing business overseas, most of the businesses usually need to deal with the ever-changing tax laws, compliance practices, and penalties as foreign governments look to increase their tax revenues from the international trade.

1. What you must Know about Peru’s Amendments to its Income Tax Law
When doing business overseas, most of the businesses usually need to deal with the ever-changing tax laws,
compliance practices, and penalties as foreign governments look to increase their tax revenues from the
international trade.
Here’s a quick glance at the the amendments in Peru’s Incoem Tax Laws:
Peru has amended its Income Tax Law in July, 2012 and published it via Supreme Decree No. 258-2012-EF on
December 18, 2012. This decree specifies the new regulations regarding tax havens, and sets a limit on deductible
Research & Development expenses.
New Income Tax Regulations: Tax Havens
Countries that conclude a tax treaty with Peru, together with an information exchange clause will not be regarded
as tax havens.
New Income Tax Regulations: Research & Development Expenses
The new rule also clarifies the deductible Research & Development expenses limit – to the lower of 10 % of net
income or 300 tax units (UIT). The balance amount could be deductible in the coming years (subject to same
annual limit), if the resultant R&D output is applied in the taxpayer’s business.
Professional Advice Makes the Difference
Although keeping abreast of all the international taxes and amendments is not a simple task, it is imperative in an
international business expansion. Your business must rely on the services of proficient business consultants who
have the knowledge and expertise in matters of compliance, audits, and ever-changing tax laws to help you
counter any hurdles that you may encounter.
It is therefore advisable to take the help of an expert who can guide your business in the right direction. Also, you
can get unlimited assistance in all areas of your business like international accounts payable, sas 70 compliance,
expat tax advice etc. and make your international business expansion a successful one.
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