August 19, 2021
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:
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.