By Supreme Decree N° 285-2024-EF, published on the night of December 26, 2024, the regulatory rules of the recently approved amnesty regime (the “Regime”) have been approved, highlighting the following points:
1. Article 52 of Law No. 30057, Civil Service Law, which establishes different classes of public officials, including those of popular, direct and universal election (e.g., President, Vice-President, Congressmen, Mayors); of regulated appointment or removal (e.g.. Magistrates of the Constitutional Court, Ombudsman, Comptroller, members of the National Jury of Elections); and of free appointment and removal (e.g. Ministers, Vice-Ministers), for the purpose of determining the scope of the exclusion contemplated in paragraph c) of Article 10 of Law No. 32201.
2. Jurisdictions listed by the Financial Action Task Force as High Risk or Non-Cooperative (Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d’Ivoire, Croatia, Democratic Republic of Congo, Haiti, Iran, Kenya, Lebanon, Mali, Monaco, Mozambique, Myanmar, Namibia, Nigeria, Philippines, Democratic People’s Republic of Korea, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam and Yemen).
3. The taxable base is constituted by the net income received until December 31, 2022 that qualifies as undeclared income for purposes of the Regime and, whenever applicable, is represented in money, goods or rights, located inside or outside the country as of December 31, 2022.
4. In the case of undeclared income that constitutes capital gains, the net income is calculated by deducting the computable cost, unless the amount of such cost also constitutes undeclared income not prescribed.
5. In the case of unjustified capital gains, it is understood that the net income received up to December 31, 2022 is equivalent to the acquisition value of the goods and rights, plus money, consumption and capital variations.
6. Certain aspects related to the possibility of declaring an intermediary person, company or entity have been regulated, specifying that controlled non-domiciled entities, subject to the rules of international fiscal transparency, will not qualify as such.
7. Against the tax determined under the Regime, no credit for income taxes paid abroad will be applicable.
8. SUNAT will have one year, starting January 1, 2025, to request information related to the assets, rights, money and/or undeclared income subject to the Regime, being able to request documents that prove e.g. the ownership and the amount of money deposited in accounts in local or foreign financial entities as of January 31, 2022; the acquisition, purchase, sale or sale of goods, rights, money and/or undeclared income, as of December 31, 2022. 12.12.2022; the acquisition, acquisition value and location of the goods or rights stated in the declaration; the credit right identifying the currency and the amount of the credit; payment vouchers evidencing the computable cost in the case of capital gains; etc.
9. If the requested information is not provided or if the information provided is incomplete or inaccurate, SUNAT will grant an additional term of ten (10) business days to the taxpayer to make the correction.
10. If the taxpayer does not submit the requested information or submits it incompletely or inaccurately, it will be considered that the taxpayer has not applied for the Regime with respect to the unsubstantiated part.
11. When the net income has been received in foreign currency, the weighted average exchange rate of purchase, supply and demand quotation, corresponding to the closing of operations on December 31, 2022, published by the SBS, will be used.
12. SUNAT will adopt the necessary measures to maintain the confidentiality of the identity of the taxpayers filing the return, as well as of the information provided for the acceptance, being able to provide, among others, that the custody, verification and use of such information is in charge of a specialized team.
For further information, please contact Alex Morris (amorris@estudiorodrigo.com), José Chiarella (jchiarella@estudiorodrigo.com) and/or Braulio Delgado (bdelgado@estudiorodrigo.com).
