Some important considerations:
- The Law came into force on 7 January 2023.
- The reduction percentages for each tariff subheading will be determined by the Executive Branch, via supreme decree published 10 working days after the Law came into force, that is, on 17 January 2023.
- From the date of entry into force of the aforementioned supreme decree, the reductions will take effect for a period of six months. This period may be extended if the circumstances that gave rise to it prevail over time.
- The Peruvian government has decided to communicate the publication of the Law to the General Secretariat of the Andean Community, in compliance with Decision 894, which approved empowering member countries to temporarily reduce a certain percentage of transport expenses and/or related expenses included in the first paragraph of Article 6 of Decision 571 Customs Value of Imported Goods.
More detail of the excluded products below:
||Urea for agricultural use
||Ammonium nitrate for agricultural use
||Crude soybean oil, including degummed
||Crude soybean oil
||Oilcakes and other solid residue from the extraction of soybean oil, including milled
||Other cereal fluor, except wheat or meslin
||Wheat gluten, including gried
||Wheat groats and semolina
||Wheat or meslin fluor
||Brans, sharps and other residues from sifting, milling or other wheat treatments
||Durum wheat except for planting
||Durum wheat for planting
We trust that this information will be useful to your company. Do not hesitate to contact us to request advice or make comments on the Law.
Click here to access the Spanish version.
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