PERÚ: INVESTMENTS IN THE AMAZONÍA REGION PROMOTIONAL REGIME
Today, the Peruvian Official Gazette published Law No. 31,855 – effective January 1st, 2024 – which amends Law No. 27,037 – Investments in the Amazonía Promotional Regime Law – in order to provide that a 5% Income Tax rate shall apply on third category income – i.e., business income – shall apply for taxpayers located in Loreto and Madre De Dios Departments, in the Iparia and Maissea districts of the Province of Coronel Portillo, and in the Provinces of Atalaya and Purús, and that carry out the following activities:
- agriculture, livestock, aquaculture, fishing, and tourism activities.
- manufacturing activities related to processing, transformation, and commercialization of primary products arising from activities stated in (i).
- timber extraction.
- passengers and cargo water transportation from/to the ports of the Amazonía area.