We bring the 29645 Law amending the Law on income tax :
29645 LAW Article 1 .- General Standard
For purposes of this Law Act means the Consolidated Text of the Law on Income Tax, approved by Supreme Decree N º 179-2004-EF, and amending regulations.
Article 2. Exemptions from development credits interest and capital gains on sale of securities
Replace the paragraph c) and p) and incorporate the clause q) to Article 19 of the Act with the following texts:
"Article 19 .- (... )
c). Interest from development credits made directly or through financial intermediaries suppliers or international organizations or foreign government institutions.
means development loans debt those operations that are intended to fund projects or programs development of the country in public infrastructure and public services, as well as to finance micro-credits, "as defined by Resolution No. SBS. 11356-2008 or rule to be replaced.
(...)
p). Capital gains from the alienation of property referred to in paragraph a) of Article 2 of this Act or rights thereon, which are Peruvian source income in the second category for an individual, undivided estate or partnership conjugal chose taxed as such, even by the first five (5) ITU in each tax year.
q). Interest and other gains from foreign loans granted to the National Public Sector. "
Article 3. Computable cost Incorpóranse
subsections f) and g) to paragraph 21.2 and paragraphs 21.6 and 21.7 of Article 21 of the Act with the following texts:
"Article 21 .- (...)
21.2.
Shares and (...)
f). In the case of shares or received as a result of corporate restructuring, cost computable is obtained by dividing the total cost of the shares of the taxpayer to be canceled due to the reorganization, the total number of Shares which the taxpayer receives.
In the case of the reorganization simple, computable cost of the shares to be issued shall be that of the asset transferred.
If reorganization occurs under as stated in paragraph 2 of Article 104 of the Act, shall not be considered as part of the cost of the asset transferred the highest value product of the voluntary revaluation would have been agreed by the reorganization. If the block is transferred assets includes assets and liabilities, the cost computable is the difference between the value of both. If the liabilities were greater than assets, the cost computable is zero (0).
g). Case emption certificates, the cost computable at the time of issue will be zero (0).
(...)
21.6.
real exchange computable cost of the goods received in an exchange will be the market value of such property.
21.7. Property owned jointly
In case of separation of assets in a marital or partition of a co-ownership, computable cost is attributed to each party in proportion to the respective separation was made or partition. "
Article 4. Foreign Source Income
hereby replaced the second paragraph and add the third paragraph of Article 51 of the Act with the following texts:
"Article 51 .- (...)
Individuals, undivided and conjugal societies that chose to be taxed as such, domiciled in the country, to obtain foreign source income from the sale of goods to referred to in paragraph a) of Article 2 of this Act, that are registered in the Public Registry of Securities of Peru and provided that the sale is made through a centralized mechanism for negotiating the country or that, being recorded in abroad, their disposition is made in foreign mechanisms, provided that a signed integration agreements with these entities or alienation of those rights, and added that income will offset each other and if it turned a net income, this will add to net income of second category produced by the disposal of those goods.
In compensation for the results to shed foreign income producing sources referred to above, does not take into account the losses produced in countries or territories with low or no taxation. "
Article 5. Revenue Determination Peruvian Source
Replace the third paragraph of Article 51-A of the Act the following:
"Article 51-A .- (...)
Where the expenditure required to produce income and maintain and supply, together affect Peruvian source income and foreign source income, and are not attributable directly to one or other, the deduction will be made proportionately according to the procedure established by the Regulation. Similarly, in the case of natural persons or companies undivided marital who chose to be taxed as such, when expenditures jointly affect foreign income from the alienation of property referred to in paragraph a) of Article 2 of this Act or rights thereon and other income from foreign sources, and are not attributable directly to one or other, the deduction shall be made proportionately according to the procedure established by the Regulations. "
Article 6. Rates of natural persons not domiciled
hereby replaced paragraph c) of Article 54 of the Act by the following:
Article 54 .- (...)
-------- Income Type - Rate 4.99%
(...)
c). The interest paid or credited when a generator of income for the third category that is domiciled in the country.
This rate will apply whenever the parties are not related or when interest is not derived from operations conducted from or through countries or territories with low or no taxation, in which case the rate of 30%. "
Article 7. Rates of non-resident legal persons
Sustitúyense paragraphs b) i) and add the item j) of Article 56 of the Act with the following texts:
"Article 56 .- The tax on legal persons domiciled in the country is determined by applying the following rates:
(...)
b). Interest paid abroad by multiple operating companies established in Peru referred to the literal A Article 16 of Law No. 26702, General Law of Financial and Insurance System and the Organic Law of the Superintendency of Banking and Insurance, as a result of domestic use of their credit lines abroad: Four and ninety nine percent (4.99%).
(...)
i). Interest from bonds and other debt instruments, deposits and charges made pursuant to Act No. 26702, General Law Insurance System and the Organization of the Superintendency of Banking and Insurance, as well as capital gains and charges in such deposits domestic or foreign, repurchase agreements, repurchase agreements and securities lending and other interest from credit operations of businesses such as selling Four-nine percent (4.99%).
j). Other income including interest on foreign loans that do not meet the requirement in paragraph 1) of subsection a) or the excess of the maximum rate established in paragraph 2) of that subsection, the interest paid private companies outside the country for loans granted by a creditor whose intervention is intended to cover a credit transaction between related parties: Thirty percent (30%).
The provisions in the first paragraph shall not apply to companies referred to in subsection b).
Se entiende que existe una operación de crédito en donde la intervención del acreedor ha tenido como propósito encubrir una operación entre empresas vinculadas, cuando el deudor domiciliado en el país no pueda demostrar que la estructura o relación jurídica, adoptada con su acreedor coincide con el hecho económico que las partes pretenden realizar”.
Artículo 8. Agentes de Retención
Sustitúyese el inciso d) del artículo 71 de la Ley por el siguiente texto:
“Artículo 71.-
(…)
d). Las Instituciones de Compensación y Liquidación de Valores o quienes ejerzan funciones similares constituidas en el país, cuando efectúen cash settlement instrument transactions and securities, and legal persons income paid or credited bearer bonds or other securities to bearer. "
Article 9. Tax Withholding.
Adds Article 73-C to the Act with the following:
"Article 73-C .- In the case of disposal of property referred to in paragraph a) of Article 2 of this Act, or rights these, made by an individual, undivided estate or married couple that chose to be taxed as such, domiciled in the country, which is awarded by an institution of Securities Clearing and Settlement or who exercising similar functions, established in the country, it should make the withholding tax on Peruvian source income and foreign source, at the time the settlement is made in cash at the rate of five percent (5% ) on the difference between the proceeds from the disposal income and expense recorded computable in that institution. Only in these cases, the calculation of retention should be exonerated by deducting the amount referred to in paragraph p) of Article 19, which is applied against capital gains in the order they are received and to deplete the amount . They should offset losses registered capital by the Institution of Securities Clearing and Settlement or who exercise similar functions in the sale of securities issued by companies incorporated in the country. The procedure to settle the monthly deduction considering the above deductions will be established in the Regulations.
In the case of interest derived from repurchase agreements and securities lending and for debt securities that are registered or not in the Public Registry of Securities Market, generated by natural persons or companies undivided conjugal chose taxed as such, they constitute Peruvian source income or foreign source, retention must be made by the Institution of Securities Clearing and Settlement or who exercise similar functions, incorporated in the country, when provided for cash settlement of the transaction, applying the rate specified in the first paragraph. Withholding on interest that qualify as foreign source income will be a definitive account of the tax accounting for the following taxable year.
When taxable income domiciled in the country, from the sale of the goods referred to in paragraph a) of Article 2 of this Act or rights thereon, is second class or third class, the tax withheld by the Institution Clearing and Settlement or who exercise similar functions, incorporated in the country, in relation to such income shall be an interim payment. Withholding Tax will be used as a credit against payments of third category generated from the corresponding period of retention and against advance payment of income tax for the second or third category which ultimately appropriate for the taxable year in which retention deserved.
For purposes of the deductions provided in this Article, individuals must report directly or through authorized third parties, the Compensation Institution and Settlement or who exercise similar functions, their status as domiciled in the country, maintaining that institution validity in this condition, while this change is not explicitly informed by those people.
The deductions provided in this Article shall be paid to the Treasury within the time limits set by the Tax Code for monthly obligations. "
Article 10. Retentions subjects enrolled in aggregate accounts
Adds Article 73-D of the Act with the following:
"Article 73-D .- When the institution of Securities Clearing and Settlement, or who exercise similar functions, incorporated in the country, take the accounting book-entry securities account jointly with a foreign institution which has the object the registration, custody, clearing, settlement or transfer of securities, and as result is assigned to the latter an aggregate, as established by regulations of the stock market, the taxpayers will be third party who is enrolled in the registration of the foreign institution.
In these cases, that institution must have the name identification, name or legal name and address of such Third, prior to liquidation. "
Article 11. resident withholding not
hereby replaced the first paragraph and subsection b) of that paragraph of Article 76 of the Act, the following texts:
"Article 76 .- The individuals or entities that paid or credited to income beneficiaries residing Peruvian source of any nature, shall be paid to the Treasury and with the minimum of the deadlines set by the Tax Code for monthly obligations, the taxes referred to in Articles 54 and 56 of this Law, one is {s the case. If the person who paid or credited such income is an Institution Compensation and Settlement, or who constituted exercising similar functions in the country, keeping in interest shall be made in all cases the rate of four point ninety-nine percent (4.99%) being in charge of the subject not resident paying the higher tax resulting from the application referred to in paragraph c) of Article 54 and paragraph j) of Article 56 of the Act the case of second-class incomes arising from the sale, redemption or redemption of the goods referred to in paragraph a) of Article 2 of this Act shall be taken into account:
(...)
b). In the case of operations that are awarded by an institution Clearing and Settlement or who exercise similar functions, incorporated in the country, the withholding must be made when it carries out clearing and settlement of cash, regardless of the exemption referred to in paragraph p) of Article 19, this Act the purpose of determining the cost computable, the subject is not home must register with that institution the corresponding computable cost and expenses incurred that are linked to the acquisition of the securities sold, which must be supported with documents issued by the respective participating entities or persons involved in the operation acquisition or disposal of securities. " Final Supplementary Provisions
First. Effective
This Act comes into force from January 1, 2011, except for replacements and additions made to the clauses c) and q) of Article 19, to subsection c) of Article 54 and subparagraphs b), i ) j) of Article 56 of the Act, which take effect from the day following the publication of this Law
II.
securities transactions for the purposes of this Act, the operaicones referred to the Rules of Operations in stock exchange approved by Resolution CONASEV No.. 21-1999, EF-94.10, and the Rules of Operations Report and repurchase agreements, approved by Resolution No. {on SBS. 1067-2005, or replace rules that will receive the treatment that follows, regardless of the legal regime applicable to these operations in the aforementioned resolutions:
1. Repurchase agreements and repurchase agreements
The repurchase and repurchase agreements are financing operations and accordingly:
a). The gross income generated by the nature REPORTING have an interest that is the difference between gross and final transfer of the initial transfer.
In the case of a secondary transaction reporting, value is considered as the final transfer for transferring its REPORTING position, the gross amount of the operation that receives the third party acquires REPORTING position, and as the value of the initial transfer to the third party that acquires the position REPORTING , the amount of money given to transferring its position REPORTING.
The tax on these transactions when they do appear enabling the settlement of final payment.
b). The gross amount of the initial transfer and final transfer will not be considered to determine the cost computable securities or ownership of the reported REPORTING than those from regulated operations by this provision
c). Is subject to the tax on the income generated by securities during the term of these transactions, reported.
Any financial compensation for the amount of income made by the pro-REPORTING reported, under the special rule will have no tax effect.
2. Securities lending transactions
securities lending transactions are governed by CONASEV financing operations, and accordingly:
a). The gross income generated by the lender has the nature of an interest that is the difference between the sale price and the repurchase price.
The tax for these obligations arise when carrying out the liquidation of the second transfer.
b). The sales price and the repurchase price shall not be considered to determine the cost computable securities owned by the lender or the borrower other than from transactions covered by this provision. If the borrower
alienate third the securities received in a securities lending transaction, the cost computable is determined in accordance with the provisions of Article 21 of the Act, taking into account the purchase price of the securities purchased for delivery the lender. In this case, the obligation to make payment Tax correspond to the same borrower.
c). The taxpayer's tax on the income generated by securities during the term of the loan stock will be the lender of the securities.
Any financial compensation for the amount of income made by the borrower to the lender, under the special rule will have no tax effect. Third
. Effective rate
The new fee referred to in paragraph b) of Article 56 of the Act only applies to credit agreements that are signed after the enactment of this Act
additional transitional provision Single
. Repurchase agreements and loan stock held as of January 1, 2011.
The provisions of the Second Supplementary Provision Final of this Act shall apply in the case of repos and lending securities regulated by the Rules of Operations in stock exchange approved by Resolution CONASEV No. 21-1999-EF-94.10, to operations conducted from January 1, 2011.
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