Peru tax authority requires multinational groups to file country-by-country reports

By Yasser Zola, Transfer Pricing Manager, BaseFirma Perú, Lima

On December 2, Peru’s tax authority published a communication requiring multinational groups to file country-by-country reports for fiscal years 2017, 2018, and 2019 by the last business day of January 2021.

The deadline comes as a result of the OECD-led Global Forum on Transparency and Exchange of Information for Tax Purposes’ determination that Peru has complied with security and confidentiality standards based upon the Superintendency Resolution 054-2019/SUNAT and 155-2020/SUNAT. As such, Peru became a reciprocal jurisdiction for the automatic exchange of information.

Later, on December 16, the Peruvian tax authority updated the FAQ section of its website, noting that it will receive country-by-country reports from other jurisdictions that have signed and ratified the Multilateral Competent Authority Agreement on the Exchange of Country by Country Reports from fiscal year 2019. 

The Peruvian tax authority will not receive country-by-country reports for fiscal years 2017 and 2018 since the reciprocal exchange of information does not apply for these fiscal years.

— Yasser Zola is Transfer Pricing Manager, BaseFirma Perú, Lima.