Peru: Extension of the exemption of income derived from the transfer of shares on the stock exchange

In brief

Law No. 31662 extends to natural persons the exemption from income tax on transfers of shares on the Lima Stock Exchange provided for in Law No. 30341.


Law No. 31662 has extended the exemption from income tax on profits derived from the transfer of shares traded on the Lima Stock Exchange until 31 December 2023, but only for natural persons and undistributed inheritances. The extension leaves domiciled legal entities and non-domiciled legal entities that were included until 2022 out of the exemption.

The rule indicates that this exemption will only apply to capital gains generated by natural persons, an undistributed inheritance or marital property where an election is made to be taxed in this way. It should be noted that the rule is not restricted to domiciled persons and, therefore, it will also apply to natural persons. In the same way, the rule provides that the exemption will only apply up to an amount equivalent to the first 100 tax units (S/495,000.00) of capital gains generated in each taxable year.

It should be noted that the rule does not include any transitional provision allowing for an increase in the computable cost of shares as of 31 December 2022, with respect to those legal entities that would have been outside this exemption. Among other matters, it remains to be clarified how the limit to the first 100 tax units will be determined.

We trust that this information will be useful to you. If you require legal advice on this issue for your company, do not hesitate to contact us.

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