What Are The 8 Peruvian Customs Categories?

Peru – the Latin American mining powerhouse continues to growth, ranking highly against its Latin American neighbors. Peru even ranks ahead of other top 20 border markets such as Colombia, Mexico, Russia and South Africa. Investment confidence in the region is growing and many international investors have realized that doing business with Peru can be very profitable. Whether this investment be in the form of international trade, company formations or acquisitions, this developing country is very attractive for foreign investors.

Custom Categories in Peru

A nations customs regulations provide the legal framework for the importation and exportation of goods, including outlining the duties and tariffs applicable for specific goods, under specific circumstances. As such it is important for all companies involved with international trade are familiar with all of the local regulations and applicable fees and charges. Specifically, within Peru, the regulations define that all goods fall within eight distinct categories (and on occasion may fall within multiple categories). A brief outline of the categories is provided below:

1. Import of Goods for Consumption – This category applies for goods that are imported for the sole purpose of consumption within Peru (i.e. Apples, Bananas, Grain) whereby a simple system of duties and taxes apply depending on the type of good, its origin and the volume.
2. Re-import of Goods in the Same State – This category applies to goods that have already been exported and are now being re-imported back into Peru. This category only applies as long as the goods were not “transformed”, “elaborated” or “repaired” aboard. For this category there are no payments of duties and/or taxes levied.
3. Temporary Admission of Goods For Re-export in the Same State – This Category applies to the temporary admission of certain types of goods without any payments of duties and/or taxes, provided the goods are identifiable and destined to be re-exported within a specific time-frame, and are not “transformed”, “elaborated” and/or “Repaired” within Peru. Goods classified under this regime are limited and determined by the Ministry of Economy and Finance.
4. Definitive Export Goods – This applies to Peruvian Goods and/or goods nationalized in Peru that are to exported abroad. They are not subject to any duties and/or taxes.