AMEND THE INCOME TAX LAW TO INCLUDE CERTAIN EXEMPT INTEREST AND CAPITAL GAINS
Items iv and v are added to subparagraph h) of the third paragraph of Article 18 of the Income Tax Law (LIR). Specifically, it is provided that exempt income includes interest and capital gains arising from:
- Repurchase (repo) transactions in which the securities that the buyer receives from the seller are instruments consisting of: (i) Public Treasury Bills issued by the Republic of Peru; or (ii) bonds and other debt securities issued by the Republic of Peru under the Market Makers Program (Programa de Creadores de Mercado) or any mechanism that replaces it, or in the international market as from 2003.
- The sale of units of participation in Exchange Traded Funds (ETFs) intended to replicate the return of publicly available indices built on the basis of the instruments consisting of: (i) Public Treasury Bills issued by the Republic of Peru; or (ii) bonds and other debt securities issued by the Republic of Peru under the Market Makers Program or any mechanism that replaces it, or in the international market as from 2003.
Effective date: 01.01.2025
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