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APA & MAP COUNTRY GUIDE 2017PERUManaging uncer tainty in the new tax environment
02 | APA & MAP Country Guide 2017 – Peru
PERU
KEY FEATURES
Competent authority
Peruvian Tax Authority (‘SUNAT’) and the General Director of SUNAT or his delegate (‘Tax authorities’)
APA provisions/guidance
Article 32 of Income Tax Code
Types of APAs Unilateral, bilateral, and multilateral APAs are available.
APA acceptance criteria
Requests are more likely to be successful if:
■ transfer pricing issues are complex and uncertainty exists as to how the arm’s length standard should be applied; and
■ there is a high probability of double taxation without an APA.
Key deadlines APA are available for a maximum of three fiscal years following that in which they are requested.
APA term limits There is a four year maximum term for an APA.
Filing fee No specific guidance.
Rollback availability
No specific guidance.
Collateral issues No specific guidance.
PRE-FILING REQUIREMENTS
Overview No specific guidance.
Anonymous pre-filing availability
No specific guidance.
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PERU (cont’d)
APA APPLICATION REQUIREMENTS
Content of APA application
The application should provide information and documentation necessary for explaining the facts and circumstances of the Taxpayer and selected TP method, including:
■ the Taxpayer’s name, business address, tax identification number, and country of residency of the related entity;
■ a description of the principal activities of the group, including where the activities are carried out;
■ a description of the transaction(s) between the Taxpayer and the related entity;
■ a detailed description of the functions and activities carried out by the Taxpayer and the Peruvian or non-resident related parties that maintain a contractual or business relationship with the Taxpayer, including a description of the assets held and the risks born by each of the parties;
■ the method(s) proposed by the Taxpayer to determine the transfer price, including the criteria and other objective elements used to demonstrate that the method is appropriate for the covered transaction(s);
■ information on comparable transaction(s) or companies, indicating the reasonable adjustments made to eliminate differences; and
■ any other documentation or information necessary or as required by the Tax authorities.
Language The documentation should be submitted in Spanish.
SME provisions No specific guidance.
04 | APA & MAP Country Guide 2017 – Peru
PERU (cont’d)
OTHER PROCEDURAL CONSIDERATIONS
General The Tax authorities follow a standard application, and monitoring process. There are no unique procedural aspects.
Monitoring & compliance
No specific guidance.
Renewal procedure
No specific guidance.
COUNTRY EXPERIENCE
Statistics Statistics on APAs are not publicly available.
MAP PROCEDURE
MAP provisions There are no specific provisions for the MAP procedure in domestic law.
DOUBLE TAXATION TREATY NETWORK
The following treaties include MAP provisions which are the basis for bilateral and multilateral APA negotiations:
BrazilChile ColombiaKorea (Republic of)Mexico(IV)
PortugalSpainSwitzerland
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NOTES
I denotes treaties with MAP arbitration provisions.
II denotes treaties with the USSR that remain applicable until a separate tax treaty is concluded.
III denotes treaties between the countries’ representative office in Taipei and the Taipei Economic and Cultural Office in the relevant country.
IV denotes treaties that became effective within the last five years.
V denotes treaties that are awaiting ratification.
VI denotes MAP provisions identical to para 3, art 25 of the OECD Model Convention with respect to Taxes on Income and on Capital.
VII arbitration is to be conducted under the statutes of the ECJ.
VIII arbitration is to be conducted under the statutes of the ICJ.
PERU (cont’d)
06 | APA & MAP Country Guide 2017 – Peru
DLA PIPER CONTACTS
Joel CooperCo-Head International Transfer Pricing T +44 207 796 6929 M +44 773 829 5470 [email protected]
Randall FoxCo-Head International Transfer Pricing T +44 207 796 6928 M +44 773 8295 935 [email protected]
Dr Francisco Botto Partner T +511 6161200 [email protected]
PERU
www.dlapiper.com
DLA Piper is a global law firm operating through various separate and distinct legal entities Further details of these entities can be found at www.dlapiper.com.
This publication is intended as a general overview and discussion of the subjects dealt with, and does not create a lawyer-client relationship. It is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. DLA Piper will accept no responsibility for any actions taken or not taken on the basis of this publication. This may qualify as “Lawyer Advertising” requiring notice in some jurisdictions. Prior results do not guarantee a similar outcome.
Copyright © 2017 DLA Piper. All rights reserved. | JUL17 | 3243606