Tributary Benefits for MSMEs in Perú

Tributary Benefits MSME in PeruThe 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)

Characteristics Requirements Advantages
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)

Characteristics Requirements Advantages
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

Characteristics Requirements Advantages
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. 

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