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PERU TAXATION ASPECTS OF PAYROLL

Contributed by:

Gonzalo Calle
Estudio Calle Abogados srl

Email: gonzalocalle@estudiocalle.com

Member of the:

WORLD TAX & OFFSHORE CONSULTANTS NETWORK

EMPLOYER:

- Social Security : 9%

- Extraordinary tax : 2%

EMPLOYEE (withholding)

- Public or Private Pension Fund : 13% or 12%

- Income Tax rate1:
from $ 0 to $ 24,260 = 15%
from $ 24,260 to 48,522 = 21%
from $ 48,522 = 30%

 LABOR BENEFITS

- 1 monthly salary (work time compensation to be paid for each working year).
- 2 monthly salary (bonus to be paid each year on July-National holidays and
Christmas time.
- 1 monthly salary (annual holidays)

Total annual salary costs:

11 salaries - working months
1 salary - work compensation
2 salaries - bonus
1 month - holidays

1 Expatriates pays 30% tax rate for the first 6 months of being legally resident in Perú.

Expatriates limitations for companies established in Perú:
- There are restrictions and exemptions on payroll.
- No work can be executed with Tourist Visa.
- Work contract with foreigners requires certain conditions to be approved.
- Immigration procedures takes no less than 3 months to get a Resident Visa
(getting residence is a requirement to work).

  

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