The Peruvian government offers tax benefits to micro, small, and medium-sized enterprises (MSMEs) according to their income levels, in order to promote their business development and persuade them to enter the formal economy. According to the Ministry of Production, 99.5% of Peruvian companies are MSMEs and in 2014, they reached a total of 1,592,232. MSMEs also concentrate nearly 80% of the total number of the country’s export companies and around 70,5% are constituted by natural persons.
Law 30056 classifies MSMEs according to their annual sales as follows:
|Micro||Annual sales up to the maximum amount of 150 UIT|
|Small||Annual sales greater than 150 UIT and up to the maximum amount of 1700 UIT|
|Medium||Annual sales greater than 1700 UIT and up to the maximum amount of 2300 UIT|
Note: Tax Tributary Unit (UIT, for its Spanish acronym) is equivalent to 3.950 soles as of 2016.
The National Superintendence of Tax Administration (SUNAT, for its Spanish acronym) offers MSMEs three tributary regimes, each one with its own advantages. This is important information for all MSMEs looking to constitute or formalize their companies in Peru.
Tributary Benefits – New Simplified Regime (RUS, for its Spanish acronym)
|For retailers and persons that develop services||Revenues or annual sales cannot exceed 360,000 soles||A monthly stipend is paid instead of the Income Tax and Value Added Tax (VAT)|
|Allowed to work in one store or establishment||Fixed assets must not exceed 70,000 soles||It is not required to keep accounting ledgers|
|Forbidden to issue invoices, but could issue a bill of sales, tickets||Must make their activities in only one establishment|
Special Income Regime (RER, for its Spanish acronym)
|For micro enterprises that are required to issue invoices||Revenues or annual sales cannot exceed 525,000 soles||A monthly payment of 1.5% of income tax|
|Fixed assets must not exceed 126,000 soles||Two accounting ledgers – purchases and sales|
|Company employees – there must be a maximum of 10 people per work shift||No regularization payment for annual revenues|
|Allowed to issue invoices|
Income Tax General Regime
|For small, medium, and large companies||There is no restriction or condition to adhere to||To determine net revenues – all expenses and costs are deducted.|
|Micro and small businesses have a tributary credit on income tax due to training expenses|
|Micro enterprises only keep three accounting ledgers – purchases, sales and simplified daily|
|Small enterprises keep up to four accounting ledgers – purchases, sales, Daily, General if their annual income does not exceed 500 UIT|
According to the Ministry of Production, in 2014, 40.2% of formal micro enterprises were part of the RUS Regime, 37.7% of the General Regime, and 22.1% of the RER. Small companies are mostly part of the General Regime, representing 98.8% and the remaining 1,2% are part of the RER. Medium companies are all part of the General Regime.
If you are unsure which regime best fits your needs, do not hesitate to contact Biz Latin Hub to learn more about the tributary benefits for MSMEs in Perú. Contact karl at [email protected] and see how we can assist with your financial reporting.