In recent years, the use of cryptocurrencies has grown exponentially in Peru, both by individuals and businesses. However, despite their popularity, many are still unaware of the tax obligations that come with their use. In this guide, we clearly explain how cryptocurrency taxation works and what entrepreneurs and corporations should consider to avoid problems with the tax authorities.
What are cryptocurrencies and why should they be declared?
Cryptocurrencies such as Bitcoin, Ethereum, and other altcoins are digital assets that, although not backed by a central bank, have economic value and are used for commercial transactions, investments, and payments.
In Peru, the National Superintendency of Tax Administration (SUNAT) considers cryptocurrencies to be digital assets, which means they must be declared and, in many cases, taxed. Failure to comply with these obligations may result in penalties, fines, and even tax audits.
When does a tax obligation arise?
Both companies and individuals must pay taxes on cryptocurrencies in various situations:
- Capital gains: If you buy cryptocurrencies at one price and sell them at a higher price, you generate a taxable gain.
- Services paid for with cryptocurrencies: If you receive payment in cryptocurrencies for a service or product, this must be declared as income.
- Cryptocurrency mining: This activity is also subject to taxation, as it generates income.
Given this scenario, having accounting and tax advice in Lima specializing in digital assets is key to avoiding legal contingencies.
How to declare cryptocurrencies correctly?
For individuals, cryptocurrency gains are considered second or third category income, depending on the type of activity. Companies, on the other hand, must incorporate these transactions into their formal accounting.
Having the support of a lawyer specializing in business law or a team of accountants specializing in taxes in Lima is crucial. These professionals can help you comply with your tax obligations, avoiding penalties and optimizing your tax burden.
Recommendations for companies
- Record transactions in accounting books: All cryptocurrency transactions must be recorded using the exchange rate on the date of the transaction.
- Issue payment receipts: Even if a payment is received in cryptocurrency, it is mandatory to issue an invoice or receipt.
- Hire auditing services: It is advisable to conduct a financial audit to verify that cryptocurrency transactions are correctly recorded and comply with current regulations.
Accounting audit, tax audit, internal audit, and financial audit services can be contracted through specialized firms such as VAG Global, recognized for offering the best tax advice in Lima.
How much does it cost to comply with these obligations?
Many entrepreneurs and companies have questions about the price of an external audit or the cost of accounting services for private companies. These can vary depending on the complexity of the business, the volume of operations, and whether accounting and business advice in Peru with a monthly price is required.
Therefore, it is advisable to request a personalized quote from a reliable provider. VAG Global offers accounting and tax services, including affordable accounting advice, ideal for SMEs and startups that handle cryptocurrencies.
The role of legal advice in cryptocurrency taxation
Because cryptocurrency legislation is still evolving, it is essential to have up-to-date corporate legal services. A corporate law firm in Peru can help you:
- Draft contracts related to cryptocurrencies.
- Resolve contractual disputes.
- Provide guidance in the face of audits.
In addition, tax lawyers in Lima play an essential role in providing tax and legal advice tailored to Peruvian regulations.
VAG Global: your strategic partner
If you handle cryptocurrencies, you need an expert ally in taxation and accounting. At VAG Global, we have a team of lawyers for companies with accounting services, tax advisors, financial auditors, and specialists in business law who can help you implement a comprehensive compliance plan.
Our services include:
- Accounting and tax advice in Peru
- Accounting and financial auditing
- Comprehensive tax advice in Lima
- Legal advisory services for companies
- Advisory and tax return services for companies in Peru
- Tax attorney services in Lima
In addition, we advise on how to properly structure cryptocurrency transactions and prevent companies from making omissions that result in penalties.
Conclusion
Cryptocurrency taxation in Peru should not be taken lightly. Both companies and individuals must understand that these digital assets have clear tax and legal implications. Having a professional team specializing in accounting and tax consulting, financial audits, and corporate legal services is the best way to protect your assets and comply with current regulations.
For more information, write to us at: contacto@vag-global.com or call +511 436 4612.
We will help you understand your tax obligations and comply with them safely.