Since March of this year, Peru has had new legal regulations in place for the Tacna Duty Free Area (ZofraTacna), which will help its further development by attracting more investment and increasing employment.
The new regulations, approved by the Peruvian Ministry of Foreign Trade and Tourism (Mincetur), also ratified by the Ministry of Production and the Ministry of the Economy and Finance, aim to support new companies within the agricultural and apparel industries in order to make the option of setting up business in Peru more attractive.
Raw materials, consumables, packages and parcels will enjoy easier entry and the incorporation of small and medium-sized enterprises will be facilitated through the creation of a “Small Business Enclosure”, where the ZofraTacna will manage the spaces that play host to these businesses, meaning that they are able to concentrate of their primary activity. It will proportionally subsidize costs and will enhance the sense of associativity among the businesses, resulting in lesser start-up capital being required.
Other significant factors include shorter processing times for the import and export of goods, improved monitoring of the operations carried out within the ZofraTacna, the implementation of an electronic receipt system for users of the shopping precinct, and the exchange of digital information between ZofraTacna, Sunat (National Superintendence of Customs and Tax Administration) and Mincetur. It is hoped that these measures will improve the traceability and control of goods, as well as the coordination between those organisations involved in said trade.
An additional 3% will be assigned to the 27% special tariff that the ZofraTacna receives each month for administration, operation, and maintenance fees.
Tax waivers
Located in the Region of Tacna, which borders Chile and Bolivia, ZofraTacna enjoys a favourable location for those industrial, agricultural, and services businesses who operate in Peru. Those goods arriving at the zone are considered as to not have entered the Peruvian territory in regard to fees and import taxes, enjoying special tax and customs benefits.
The tax waivers for those companies in the ZOFRATACNA who carry out certain established activities remain in place in regard to Income Tax (IR, in Spanish), Sales Tax (IGV, in Spanish), Fuel Tax (ISC, in Spanish), Municipal Development Tax (IMP, in Spanish), and in general any other taxes already in place or to be introduced in the future, with the exception of ESSALUD [Peruvian Social Security and Health System] contributions and rates.
The waiver for the Special Solidarity Tax, legislated by Law No. 28378 was scrapped.
The new regulations also state that those operations carried out within the rest of the national territory will be taxed with all of those corresponding sales and import duties. In regard to services operations provided in the rest of the country, if said activities are authorized by the Regulations, the service consumer will be the one to pay the Sales Tax (IGV, in Spanish).
Furthermore, in accordance with Law 30976, e-commerce operations will now be classified as domestic sales and subject to, depending on the product, Sales Tax (IGV, in Spanish), Municipal Development Tax (IMP, in Spanish), and Fuel Tax (ISC, in Spanish). This form of consumption does not apply to those visiting the Shopping Precinct in person, who will not be subject to these taxes.