The Regulation of Deferral and/or Fractionation for the Tourism Sector is adopted.– By Supreme Decree N° 066-2021-EF, published on April 15, 2021, the Regulation for the application of the Deferral and/or Fractionation Regime for the Tourism Sector (RAF – Tourism) of the tax debts administered by SUNAT approved by Law N° 31103 has been adopted.
The rule provides, among other regulations, for the method of calculating the monthly installment and specifying the amount of the first installment and the payments made before the issuance of the resolution on the request for accommodation to the RAF-Tourism.
New electronic issuers are designated.– Superintendence Resolution N° 0048-2021/SUNAT, published on March 10, 2021, states that, from October 1, 2021, suppliers of the State engaged in the sale of goods or the provision of services to public entities shall issue electronic invoices and electronic credit and debit notes.
Transfer Pricing.– Through Report Nº 036-2021-SUNAT/7T0000, SUNAT pronounces on transfer pricing rules:
(i) The information for two or more fiscal years prior or after the fiscal year audited provided for in Article 110 of the Income Tax Law Regulations (LIR), has no effect on the adjustments referred to in paragraph c) of Article 32-A of said law.
ii) For the purposes of the comparability analysis, it is possible to consider as an analyzed party the non-domiciled subject who carried out a transaction with a taxpayer domiciled in the country in order to evaluate whether the market value rule is met.
Imputation of income from term sale.– In Report Nº 014-2021-SUNAT/7T0000 it is stated that in the case of a transfer of credits without recourse that is configured by the endorsement in ownership of bills of exchange issued for the installments agreed for the payment of the price for the sale of goods made in installments greater than one (1) year, in respect of which the grantor (and transferor of the credits contained in the bills of exchange) made use of the option provided for in the first paragraph of Article 58 of the LIR, the obligation to recognize the income from such transfer arises at the time indicated in said Article.
Limit for the deduction of interest expenses.– With Report Nº 013-2021-SUNAT/7T0000, SUNAT states that in order to calculate the limit for the deduction of interest expenses provided for in numeral 1 of paragraph a) of Article 37 of the Income Tax Law, it must be taken into account that:
(i) It is applicable to interest expenses arising from credit operations carried out with resident persons or permanent establishments located in non-cooperating or low or no taxation countries or territories, referred to in paragraph m) of Article 44 of the LIR.
ii) It is applicable to the interest that is part of the installments paid by the lessee in financial leasing contracts.
iii) It is not applicable to the assignor’s expense in non-recourse factoring operations.
Sale of rural land.– Report Nº 024-2021-SUNAT/7T0000 states that the income obtained from the sale of rural land in the form of subdivision made by a natural person without business qualifies as income product for the purposes of the Income Tax Law.
Joint Venture: Dividend nature of the associate’s share (Ruling of Mandatory Compliance Nº 2398-11-2021).– Through this ruling, the Tax Court establishes the following criterion of mandatory compliance:
“The associate’s share for Income Tax purposes, qualifies as a dividend or other form of profit distribution. In this sense, it shall be taxed or not depending on who the associate is, as follows: 1. If the associate is a legal entity domiciled in the country, such income is not subject to Income Tax. 2. If the associate is a natural person or an entity other than a legal person domiciled in the country, such income is taxed with the second category Income Tax”.
Support of unpaid interest on loan to shareholders (RTF Nº 6741-4-2020).– The shareholders’ meeting agreed to distribute dividends without having liquidity to pay them, that is why it entered into a loan agreement with its shareholders for the amount of the undistributed dividends, agreeing to the payment of interest. SUNAT stated that the interest was only deductible if it was established that the loan funds had entered the company and had been used to obtain taxable income or to maintain its productive source.
The taxpayer, to support the objection, submitted a document called “Shareholders’ Loan Support” with three tables showing the working capital that it needed to maintain on a constant basis to cover the gap between the payment cycles to its suppliers and collection from its suppliers and the cash deficit that it would have had if it had paid the agreed dividends.
For SUNAT and the Tax Court, the referred document did not prove causality since no additional documentation was submitted to support the calculations and projections contained therein, the destination of the loans obtained and, consequently, compliance with the principle of causality of the expense observed.
