The Lima Chamber of Commerce (CCL) has reported that companies under the Mype Tax Regime or the General Income Tax Regime (IR) are obliged to declare and pay the Temporary Tax on Net Assets (ITAN) for the 2024 financial year.
Which companies are required to pay ITAN?
Companies whose historical value of net assets as of December 31, 2024 exceeds one million soles must comply with this obligation. A rate of 0.4% will be applied to the surplus to calculate the ITAN.
Assets deductible from the tax base
It is important to note that certain assets can be deducted from the ITAN tax base:
- Machinery and equipment less than three years old.
- Shares, participations or capital rights in other companies subject to ITAN.
- Properties, museums and private collections declared cultural heritage by the National Institute of Culture (INC).
Companies exempt from ITAN
Some entities are exempt from this tax:
- Companies that have not started production activities.
- Public water and sewerage service providers.
- Companies in the process of liquidation or insolvency.
- The Development Finance Corporation (Cofide).
- Associations or foundations exempt from income tax.
Dates and methods of payment
The declaration and payment of the ITAN must be made together with the March tax obligations, due between April 15 and 25, according to the last digit of the RUC. The ITAN can be paid in cash or in nine equal monthly installments, with a minimum of S/ 1 per installment.
| Last Digit of the RUC | Expiry Date |
| 0 | April 15, 2025 |
| 1 | April 16, 2025 |
| 2 y 3 | April 21, 2025 |
| 4 y 5 | April 22, 2025 |
| 6 y 7 | April 23, 2025 |
| 8 y 9 | April 24, 2025 |
Note: For good contributors, the expiration date is April 25, 2025.
Benefits of complying with the ITAN
In addition to avoiding tax penalties, the payment of the ITAN can be used as a credit against the payments on account of Income Tax for the periods from March to December 2025, as well as against the annual regularization payment of the Income Tax. If there is an unused balance, the taxpayer may request a refund or offset it against other taxes administered by SUNAT.
Conclusion
Timely compliance with the ITAN declaration and payment is essential for Peruvian companies. In addition to avoiding possible sanctions, it allows for the optimization of tax management through the application of tax credits. Companies are advised to review their assets in detail and take advantage of the deductions allowed for a correct determination of the tax.
Source: Gestión