Companies must pay profits from March 25 to May 13. This mandatory compensation is deposited within 30 days after the deadline for filing the Annual Income Tax Return.
What Is Profit Sharing?
The right to profit sharing for workers is recognized in the Political Constitution of Peru and is mainly regulated by Legislative Decree No. 892.
It aims to increase the productivity of workers subject to the private labor regime by participating in the profits of companies engaged in third-category income-generating activities.
Payees
Those establishments generating third-category income and employing more than twenty workers during the fiscal year must share their profits.
As long as they are on the payroll and their companies have generated profits, domestic or foreign workers, whether on indefinite or fixed-term contracts, part-time, remote, or teleworking, will receive this compensation.
Cooperatives, self-managed companies, business partnerships, and companies not exceeding twenty workers are excluded from the profit sharing.
Company Compensation
The corresponding participation to workers will be allocated within thirty calendar days following the expiration of the term established by the legal provisions for the submission of the Annual Income Tax Return.
|
Último dígito do CPF |
Due date for filing the Annual Income Tax Return 2023 |
| 0 |
March 26, 2024 |
|
1 |
March 27, 2024 |
| 2 |
April 1, 2024 |
|
3 |
April 2, 2024 |
| 4 |
April 3, 2024 |
|
5 |
April 4, 2024 |
| 6 |
April 5, 2024 |
|
7 |
April 8, 2024 |
| 8 |
April 9, 2024 |
|
9 |
April 10, 2024 |
| Good taxpayers and individuals not obliged to register with the TIN |
April 11, 2024 |
Calculating the Amount of Profits
According to the percentage based on the business activity, the amount to be allocated is determined based on two criteria: 50% based on the days worked by each employee and 50% proportional to the remuneration of each employee.
Regarding the allocation based on the number of days worked, 50% is divided by the total number of days worked by all employees, multiplying the resulting amount by the number of days worked by each employee.
Regarding the allocation proportional to the remunerations, the remaining 50% will be divided by the total sum of the remunerations of all the employees corresponding to the fiscal year, multiplying the result obtained by the total remunerations corresponding to each employee in the fiscal year.
It should be noted that the calculation of profits also depends on the industry to which the company where the employee works belongs.
Source: Perú Retail