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.