Tax News Update    Email this document    Print this document  

December 14, 2020
2020-2861

Peru's tax authorities establish January 29, 2021 as the due date for the secondary filling of 2017, 2018 and 2019 CbC reports

Taxpayers should review the applicability of the new due date for the secondary filing of the country-by-country report to determine if they must file the report by January 29, 2021.

Peru's tax authorities established the due date for the secondary filing of the country-by-country (CbC) reports for 2017, 2018 and 2019 is January 29, 2021, in certain cases.

Background

Ruling Nos. 054- 2019 and 155-2020 postponed the filing of 2017, 2018 and 2019 CbC reports to the last business day of the month following the publication of the official communication indicating that Peru obtained approval on the confidentiality and safety of information standard from the Global Forum on Transparency and Exchange of Information. The tax authorities published the official communication on its website on December 2, 2020. They also announced that Peru has been included as a reciprocal country for the exchange of information.

Local conditions for secondary filings

CbC reports are due January 29, 2021, for the following taxpayers:

  1. Taxpayers whose nonresident parent entity is not required to file the CbC report in its jurisdiction of residence
  2. Taxpayers with an ultimate parent entity (UPE) or surrogate parent entity (SPE) resident for tax purposes in a jurisdiction that has (i) an international treaty or Andean Community decision in effect with Peru and an agreement between competent authorities and (ii) a systematic failure of the tax information exchange has been communicated by Peruvian tax authorities to the Peruvian taxpayer
  3. Taxpayers with a UPE or SPE resident for tax purposes in a jurisdiction that has an international treaty or Andean Community decision in effect with Peru authorizing the exchange of tax information, but does not have a qualifying competent authority agreement in effect with Peru for the exchange of the CbC report

For 2017, CbC reports are due January 29, 2021, only if the third condition applies. An Andean Community decision is a decision from the free trade area comprising Bolivia, Colombia, Ecuador and Peru.

———————————————

Contact Information
For additional information concerning this Alert, please contact:
 
Ernst & Young Asesores S.C.R.L, Lima
   • Marcial Garcia (marcial.garcia@pe.ey.com)
   • Dionis Arvanitakis (dionis.arvanitakis@pe.ey.com)
Latin American Business Center, New York
   • Ana Mingramm (ana.mingramm@ey.com)
   • Pablo Wejcman (pablo.wejcman@ey.com)
   • Enrique Perez Grovas (enrique.perezgrovas@ey.com)
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement