Peru Gazettes Law Extending IGV Incentives on Books, Establishing Tax Exemption on Copyright Royalties

The Peruvian Official Gazette Oct. 11 published Law No. 31893, extending general sales tax (IGV) incentives on books and establishing an income tax exemption on copyright royalties of authors. The law includes measures: 1) extending the IGV exemption on the import or sale of books and related publishing products, including electronic versions, effective from the date following the expiry of the previous application; 2) extending a tax refund of IGV incurred by publishers on the purchase and import of capital goods, raw materials, supplies, electronic prepress services, and graphic services for the production of books and related publishing products; and ...