Peru Gazettes Decree Establishing Tax Rates, Preferential Interest for Taxation of Interest From Foreign Credits

The Peruvian Official Gazette June 29 published Supreme Decree No. 137-2023, establishing the tax rates and preferential interest rates for interest on foreign credits. The decree includes measures: 1) applying a 4.99 percent tax rate on interest received at or below the preferential rate of interest; 2) applying a 30 percent tax rate on interest received in excess of the preferential rate, plus three points; 3) stating that the preferential rate is considered to be the 30-day average secured overnight financing rate (SOFR), plus four points, regardless of the place where the credit comes from, the currency, or the agreed ...