This chapter provides an overview of Peru’s tax regime, covering areas of particular interest to investors such as individual and corporate income tax, international tax transparency, double taxation treaties, foreign source income and other investor considerations.
This chapter contains an interview with Paulo Pantigoso, Country Managing Partner, EY Peru.
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.
The UAE federal government has exclusive jurisdiction to legislate in relation to the UAE’s taxation system. However, no federal tax laws have been established to date. Instead, most of the emirates enacted their own general income tax decrees in the late 1960s, known as the “tax decrees”.
As a business centre for the MENA region, the UAE continues to be a highly relevant and attractive destination for investors for a number of reasons including infrastructure, logistics and access to skilled labour. According to the PwC and World Bank’s “Paying Taxes” 2017 study, the UAE is the country with the single easiest system for paying...
This chapter contains an overview of the tax framework in which local and foreign investors operate in Abu Dhabi, as well as a look at the value-added tax system being developed across the GCC, a rundown of the social security contributions required for local staff and an outline of the double taxation treaties in place or on the way. This chapter contains a viewpoint from Dean Kern, Middle...
The much-awaited budget speech for 2017 delivered on many fronts, particularly revenue measures and tax administrative reforms, with an aim to improve overall business sentiment. The shift that was seen with most new revenue proposals was that they are now targeted at improving the direct tax contribution towards revenue. Unlike in 2016, some...
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