Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Indirect tax snapshot
Please click on each section to expand further:
Value Added Tax (VAT) is the main type of indirect taxation in Peru.
It is a tax on consumption that is applied during the production and distribution process to most goods and services. It is also applied to goods, and certain services, entering the country. Although VAT is ultimately borne by the consumer by being included in the price paid, the responsibility for charging, collecting, and paying it to the tax authority at each stage of the process rests with the business making the supply (i.e., the sale).
Our VAT legislation taxes the following transactions:
• sale of goods
• performing and use of services performed by non-residents
• construction contracts
• first sale of immovable property by the constructor
• import of goods (including intangibles).
The tax rate is 18% applicable over the price of the transaction.
Regarding the sale of goods, our legislation defines ‘goods’ as those tangibles that may be carried from one place to another, their related rights, distinctive signs, inventions, copyrights, goodwill, and similar, ships and aircraft, including documents representing these ones.
Regarding ‘performing of services’, our legislation defines ‘services’ as any performing that a person does to another and for which receives third category income for purposes of income tax, even when not subject to the latter tax; including the lease of movable and immovable property and leasing.
For deducting input VAT as a credit, the purchase should be deductible as an expense for income tax purposes and such acquisition should be intended for an operation also taxed with VAT.
Some special regimes are considered by our legislation, as the benefit granted to exporters of goods or services. In such cases, the input VAT could be refunded in cash from the tax authorities.
There is no specific or different legislation to this effect.
In general, these services will be taxed with VAT considering the tax rate of 18%.
On a monthly basis.
Yes. If a VAT return, is submitted late a penalty can be imposed.
Yes. A range of penalties can be imposed where businesses do not comply with the VAT rules.
A VAT invoice must show:
• an invoice number that is unique and sequential
• the seller's name and address
• the seller's tax registration number
• the invoice dates
• the customer's name and address
• a description sufficient to identify the goods or services supplied to the customer
• the rate of any cash discount
• the total amount of VAT charged expressed in sterling.
For each different type of item listed on the invoice, the following must be shown:
o the unit price or rate, excluding VAT
o the quantity of goods or the extent of the services
o the rate of VAT that applies to what’s being sold
o the total amount payable, excluding VAT.
VAT invoices can be issued, received, and stored in electronic format and there is no need to tell the tax authority.
For further information on indirect tax in Peru please contact:
Juan Carlos Basurco