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August 19, 2021
2021-1537

Peru creates a new tax-free zone

Certain activities in the district of San Ignacio, Cajamarca will not be subject to taxes.

On August 14, 2021, Peru enacted Law No. 31343, creating a new tax-free zone in Peru — Zona Franca de Cajamarca (ZOFRACAJAMARCA) in the district of San Ignacio, Cajamarca (northern Peru).

The following activities will not be subject to corporate income tax, value-added tax, customs duties, excise tax, and any other taxes imposed by the federal government and local governments:

  • Manufacturing
  • Commercialization
  • Industrial activities
  • Agri-business
  • Maquila factories
  • Services

Law No. 31343 went into effect on August 15, 2021. The Executive Power is expected to issue regulations implementing the law within the next 30 calendar days.

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Contact Information
For additional information concerning this Alert, please contact:
 
Ernst & Young Asesores S.C.R.L, Lima
   • Roberto Cores (roberto.cores@pe.ey.com)
   • Ramón Bueno-Tizón (ramon.bueno-tizon@pe.ey.com)
Latin American Business Center, New York
   • Lucas Moreno (lucas.moreno@lan.ey.com)
   • Ana Mingramm (ana.mingramm@ey.com)
   • Pablo Wejcman (pablo.wejcman@ey.com)
   • Enrique Perez Grovas (enrique.perezgrovas@ey.com)
 

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