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May 28, 2024

Peru and Switzerland to begin negotiating new protocol on double-tax treaty

According to Ministerial Resolution No. 176-2024-EF/43, published in the Official Gazette of Peru on 24 May 2024, Peru and Switzerland will soon carry out the first round of negotiations for a protocol on a double-tax treaty (DTT).

Specifically, the Ministerial Resolution authorizes representatives of the Ministry of Economy and Finance to travel to Switzerland to negotiate an amending protocol to update the Peru-Switzerland DTT.

The first round of negotiations is scheduled to take place in Bern, Switzerland from 3 to 6 June 2024 and aims to adapt the Peru-Switzerland DTT to the latest international standards, following the recommendations of the Organisation for Economic Co-operation and Development (OECD)/G20 on Base Erosion and Profit Shifting (BEPS), specifically regarding the Action 6 (Prevention of Tax Treaty Abuse) and Action 14 (Mutual Agreement Procedure), as well as to strengthen bilateral relations in the tax, commercial and investment fields.

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Contact Information

For additional information concerning this Alert, please contact:

Ernst & Young Asesores Empresariales S.C.R.L, Lima

Ernst & Young LLP (United States), Latin American Business Center, New York

Ernst & Young LLP (United Kingdom), Latin American Business Center, London

Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor