PERU: NEW OBLIGATIONS FOR LEGAL ENTITIES

The Beneficial Ownership Declaration or BF, obliges Peruvian companies to inform SUNAT (National Superintendence of Customs and Tax Administration) the identity of their beneficial owners, natural persons who own or control them.

For this fiscal year 2022, SUNAT has expanded the spectrum of companies obliged to comply with this requirement, taking as a parameter their net income generated in fiscal year 2021.

 

  • New obligors in BF

    • SECTION I: Legal entities domiciled in Peru that in fiscal year 2021 recorded net income greater than 1,000 UIT.
    • SECTION II: Legal entities domiciled in Peru that in fiscal year 2021 recorded net income greater than 500 UIT up to 1,000 UIT.
    • SECTION III: Legal entities domiciled in Peru that in fiscal year 2022 have a net income of more than 300 UIT.
    • LEGAL ENTITIES: Legal entities (such as trusts, investment funds, among others) that are registered in the Single Taxpayers Registry at SUNAT as of December 31, 2022 and whose registration has not been deregistered until January 2023.

*1 UIT (Tax Unit) = PEN 4600

 

  • Deadline for filing and information to be reported

OBLIGATED

DEADLINE

INFORMATION

 

SECTION I

May 2022 (fortnight of June) Beneficial ownership information updated as of May 31, 2022
 

SECTION II

August 2022 (September fortnight) Beneficial ownership information updated as of August 31, 2022
SECTION III May 2023 (June fortnight) Beneficial owner information updated as of May 31, 2022
LEGAL ENTITIES December 2022 (January fortnight) Beneficial owner information updated as of December 31, 2022

** The calculation of net income is made by choosing the higher value between the one included in the annual return and the one included in the set of monthly returns. Subjects of Tranche III who comply with their obligation because they are included in Tranches I or II are not required to file a new return.

 

  • Can those obligated on earlier dates file the tax return?

The companies that registered more than 1,000 UIT or those that were obliged to file the tax return in 2019 and have not yet made the present obligation, still have the opportunity to do so.

 

  • Sanctions applied for noncompliance

NONCOMPLIANCE

SANCTION

Failure to submit the BF, or failure to submit a complete and accurate BF

0.6% NI

Failure to submit supporting documents for the BF

0.6% NI

Failure to support the performance of due diligence procedures

0.6% NI

Withholding information

0.6% NI

Failure to maintain documentation and systems

0.3% NI

***NI = Net Income

 

  • What can we do at FeliuN&I?

At FeliuN&I, thanks to our experts in the field, we will advise and inform you about the new obligations and repercussions that SUNAT has applied to Peru.