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Summary

Standard VAT rate: 18%
E-Invoicing: mandatory for all transactions
Reporting: yes
Digital service tax: 30%

Compliance and rates

 

VAT number format

Peruvian VAT number format is 11-digit taxpayer identification number (RUC) used in all communications with Tax and Customs Administration.

 

VAT rates

The standard VAT rate in Peru is 18%

VAT breakdown: Standard 16% VAT + 2% of a municipal tax

Excise Tax (ISC)

ISC is imposed on the import, manufacture and first acquisition of the following goods:

  • petroleum, gas and derivatives
  • automobiles and other vehicles
  • tobacco and specific beverages
  • luxury products.

 

VAT payments and returns

All businesses with Peruvian VAT number must submit monthly VAT reports and payments.

VAT Returns frequency

For all companies that operate in Peru, VAT returns must be submitted on annually or monthly basis.

Monthly – between the 7th and 16th working day of the following month. It can be done by online Form 119 or in person at an authorized bank.

Annually – large tax payers must file annual supplementary declarations on taxable transactions. Locally known as Declaración Annual de Operaciones con Terceros.

Penalties in case of late filings or misdeclarations

For failure to register or late registration and late filings of VAT there is penalty of around 1400 USD in local currency.

Tax fine equivalent to 50% of the omitted VAT plus 1.2% monthly interest.

 

Invoice requirements

Invoices issued in Peru must contain the following information:

  • supplier / issuer data (Company name, address, VAT number)
  • customer data (Company name, address, VAT number)
  • the word invoice “Factura” on the invoice
  • the tax number of the invoice printer
  • full description of goods and/ or services provided
  • Invoice date
  • Total amount
  • Total VAT amount
  • Total gross value

 

E-Invoicing

Peru introduced mandatory e-invoicing.

Superintendency Resolution No. 239-2018 / SUNAT was published. Users of Electronic issuers categorized as major contributors or General Sales Tax withholding or collection agents the electronic issuing systems (SEE) designated by SUNAT are required to use the SEE-OSE and/or SEE-SOL starting as of:

  • From 1st of January 2019 – it is obligated to issue invoices electronically with 4 months of adaption to new regime
  • 1st March 2019: Electronic issuers categorized as major contributors 1st July 2019 for businesses in the financial and insurance system and savings, as well credit cooperatives that have been not authorized to collect resources from the public and are under the control of the Superintendency of Banking, Insurance and Private Administrators of Pension Funds.
  • 1st January 2020 – mandatory for all

Turnkey invoice compliance.

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