Peru Tax Agency Clarifies Bad Debts Deduction for Calculation of Third Category Income

The Peruvian National Superintendency of Customs and Tax Administration March 16 posted online a letter clarifying deductions for doubtful collections originating in property guarantees and restructuring plans in the calculation of third category income. The agency clarified: 1) the loss or deterioration of property before recovery of the final amount guaranteed isn’t deductible; and 2) debts in a Restructuring Plan or in a Global Refinancing Agreement aren’t deductible. [Peru, National Superintendency of Customs and Tax Administration, 03/16/20]

Reference:
View Report No. 25-2020-SUNAT/7T0000. View Index.