Amendments to the Income Tax Law Regulations relating to transfer pricing

The Official Gazette published today in "El Peruano" Supreme Decree N°066-2022-EF, which amends paragraph c) of Article 109 of the Income...

The Official Gazette published today in “El Peruano” Supreme Decree N°066-2022-EF, which amends paragraph c) of Article 109 of the Income Tax Law Regulations, referring to the correlative adjustments of transfer pricing.

Previously, the first paragraph of paragraph c) of Article 109 of the Income Tax Law Regulations established that the correlative adjustments of transfer prices shall be under the bilateral agreements to avoid double taxation and prevent tax evasion (CDI) entered into by the Republic of Peru and that the competent authority for the mutual agreement procedure agreed upon in such agreements shall be represented by SUNAT.

In this regard, to adapt it to Ministerial Resolution N°383-2021-EF/10, which designates the National Superintendent of Customs and Tax Administration of the SUNAT (Superintendencia Nacional de Aduanas y de Administración Tributaria – National Superintendence of Customs and Tax Administration) as the authorized representative of the Minister of Economy and Finance, to exercise the function of the competent authority of the mutual agreement procedure provided for in the DTAs in force, it became necessary to modify subsection c) of the aforementioned article.

Therefore, the new content of said subsection mentions that the correlative adjustments shall be governed by the provisions contained in the international agreements to avoid double taxation entered into by the Republic of Peru. It also states that the adjustment made by the foreign Tax Administration must be stated in an administrative act that has become final.

Source: Diario Oficial El Peruano 

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