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Government Working On Tax Reform To Boost Revenue

PERU
  • During an interview from New York, Finance Minister Pedro Francke explained the Peruvian government is working on a tax reform that will increase the levies on certain activities including mining and digital platforms.
    • Franke commented that the government expects to ask congress for power to carry out the reform in 10 days and sees the tax package approved before the end of 2021.
    • "I see several parties in congress open to mining taxes, including the mining entrepreneurs themselves because the issue is to attack the additional profit margin".
    • The tax reform together with a crackdown on evasion will allow the government to increase revenue by 1.5%-2% of GDP, the minister added.
  • Additionally, the finance minister also said the government is discussing with congress and central bank chief Julio Velarde the candidates for the monetary authority's board of directors.
    • Francke expects to have the names of the candidates in roughly two weeks.
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