In 2024, tax deductions offer businesses in Peru the opportunity to optimize their tax burden and improve their financial health. Strategically taking advantage of these opportunities can make the difference between a thriving business and one that stagnates.
What are tax deductions?
Tax deductions are expenses that businesses can subtract from their gross income to reduce their tax base. These are regulated in Article 37 of the Income Tax Law and in Article 21 of its Regulations. If deductions are applied correctly, lower tax payments are achieved, allowing businesses to allocate those resources to other critical areas such as reinvestment or expansion.
Main tax deductions for companies in 2024
- Operating expenses: All companies are entitled to deduct costs related to their day-to-day operations, such as rent, supplies, utilities, and salaries.
- Investments in research and development (R&D): Companies that invest in technological innovation can apply special deductions.
- Marketing and advertising expenses: This type of expense is deductible, especially relevant for businesses seeking to position themselves through effective digital strategies.
- Staff training and development: Companies that invest in improving their employees’ skills can take advantage of attractive tax deductions.
- Financial and insurance expenses: Payments related to business insurance, loans, and financial services may be deductible in certain circumstances.
How to apply these deductions correctly?
The proper application of tax deductions requires a thorough knowledge of current tax legislation. Companies should seek the advice of experts in Tax Consulting Lima who can guide the process to maximize benefits. In this sense, choosing the best Tax Advisory in Lima becomes essential.
The importance of a proper financial audit
Conducting a periodic financial audit is crucial to identify errors or fraud and ensure regulatory compliance. Accounting audit services, both internal and external, can ensure that tax deductions are made correctly and transparently.
Comprehensive accounting and legal services
In addition to financial auditing, companies must have comprehensive advice covering both accounting and legal aspects. In this regard, services such as accounting and tax advice in Lima, as well as accounting and business advice in Peru, are indispensable for facing the tax challenges of 2024.
Legal and Corporate Advice
In 2024, tax legislation continues to evolve, making it essential to have the support of tax lawyers and corporate lawyers in Peru. These professionals not only ensure regulatory compliance but also contribute to the design of effective tax strategies.
Why choose VAG Global?
At VAG Global, we offer a comprehensive service that includes accounting and tax advice in Peru, corporate legal services, and the expertise of lawyers specializing in business law in Lima. Our team ensures that every tax deduction is maximized, allowing your company to save money and comply with all current regulations.
For more information, write to us at: contacto@vag-global.com or call +511 436 4612. We are ready to help you grow your business in 2024.