Peru Tax Agency Announces Information on Tax Benefits for Peruvians Returning From Abroad

The Peruvian National Superintendency of Customs and Tax Administration March 18 issued Press Release No. 021, on VAT and ad valorem property tax benefits for Peruvians living abroad and seeking to return to Peru. Topics covered include: 1) the tax-free benefit applies to household goods up to US$50,000, vehicles up to US$50,000, and up to US$350,000 for instruments, machinery, equipment, capital goods, and other goods used in the taxpayer’s work, profession, or business activity; 2) the requirement that the taxpayer resided abroad continuously for three years, or for two years if forced to return due to their immigration status, with ...