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For the past two decades, the Peruvian legal framework has developed along similar lines, promoting foreign investment and competition, as well as social inclusion. This chapter highlights some of the most important recent changes that have occurred in the areas of mining, electricity, tax, employment of foreign nationals, corporate transactions, banking and finance. In addition, it features a...

Featuring an interview with Esteban Chong, senior partner, PwC Peru, the tax chapter provides an overview of the Peruvian tax regime, highlighting recent changes in areas of interest to investors such as income taxes, stability agreements, tax treaties, tax exemptions and pension fund contributions, among others.

A series of reforms in late 2013 have effectively redesigned the health sector’s institutional framework and increased coverage and access to services. While state funding remains low, the sector has seen a significant rise in private sector participation, which is expected to continue following implementation of the reform package. With a number of larger companies investing heavily, smaller...

Fuelled by private investment and broader economic growth, the telecoms market grew 13% in 2012 and is projected to expand by a further 11% in 2013. As the mobile market becomes more saturated with the entry of a fourth mobile operator in 2013, non-voice services are being rolled out to maximise customer revenues, such as mobile money and banking. The dominance of two operators in the mobile...

Despite a global economic recession, international tourist arrivals in Peru rose by 10% in 2012 to reach 2.85m and the industry forecasts these numbers will continue rising at a steady rate, exceeding 3m visitors by the end of 2013. Overall heightened economic activity and investments are building a large corporate segment that is pushing industry standards, particularly in the hospitality...

Increased domestic consumption, exports and investment have led to consistent sector growth since 2004, averaging 4.2% per year in GDP terms from 2003-12. In 2012 the agriculture and livestock sector grew 5.1%, with agricultural activity comprising 60% of the sector’s total growth, though its contribution to GDP declined to 7.2% as the pace of growth in other sectors rose. In the first half of...