January 20, 2021 New regulations outline financial information banks must report to Peruvian tax authority The regulations detail what financial information must be reported. In regulations (Supreme Decree 430-2020-EF, released December 31, 2020), the Peruvian tax authority outlined what financial information banks must report to the tax authority, including: - Account balances and/or accumulated amounts or averages of PEN 10,000 or more (approximately USD 2,857) - The type of account - Information on the account holder (name, ID number, address, place of incorporation (for companies)) - The type of currency in the account - The account holder's Tax ID The regulations are effective as of January 1, 2021. Now that the regulations are effective, banks must begin reporting the requisite information monthly. ———————————————
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