Last June 12, 2024, the Congress approved the new Bill No. 07536/2023-CR which intends to implement a Special Income Tax Regime.
What is the purpose of this new regime?
The purpose is that individuals, undivided estates or conjugal partnerships that chose to be taxed as such and are domiciled in the country, regularize the declaration of their income and/or repatriate it. It would also be applicable to any unjustified capital increase.
What does the repatriation of income imply?
It consists of the declaration and payment of those incomes generated abroad that were subject to income tax but were not withheld or paid.
Applicable rates
|
Undeclared income generated up to 12/31/2023 |
10% |
| Repatriation of income |
7% |
Application to the regime
The taxpayer could apply to the present regime until December 29, 2024 by filing the affidavit form established by SUNAT.
Declaration and rectification
In such form, the taxpayer will declare the undeclared net income, will apply the above mentioned rates and will proceed with the payment of the determined tax. In addition, he/she would be entitled to rectify his/her original return until June 30, 2025, provided that he/she does not determine a lower taxable income.
Effect of the acceptance and payment of the tax
All income tax obligations with respect to undeclared income will be understood to be fulfilled; therefore, SUNAT will not be able to establish tax obligations related to this income nor establish infractions or penalties.
Source: Proyectos de Ley