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This Alert is a reminder of the Extension of SUNAT in the presentation of the Annual Sworn Declaration of Income Tax (Fiscal Year 2019), which does NOT apply to subjects obliged to present the Local Transfer Price Report Declaration 2019. The Supreme Decree declaring a State of Emergency contains no exception. It is recommended to have the result of the adjustment before the Affidavit in order to fill in box 103.

1. Background:

On December 27, 2019, Superintendency Resolution No. 271-2019 / SUNAT was published, which establishes the forms and schedules for the Annual Sworn Declaration of Income Tax and Financial Transactions Tax (ITF).

2. Extension for the presentation of the Declaration and make the regularization payment of the Tax and the ITF, corresponding to the fiscal year 2019:

According to what is indicated in the sole article of the Superintendency Resolution 054-2020 / SUNAT, published on March 12, 2020, the schedule applicable to taxpayers who must make the regularization payment of the Tax and the ITF is as follows for those who have obtained third category net income above 2,300 UIT (S /. 9,500,000):

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On the other hand, an extension is only applicable to taxpayers who have obtained net income of up to 2,300 UIT or who have received income other than third category. The same as detailed below:

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It must be taken into account that having accrued income greater than 2,300 UIT is one of the requirements to be obliged to present the Informative Sworn Statement of Transfer Prices Local Report - Virtual PDT 3560 in June 2020 with respect to fiscal year 2019. Therefore, the extension in the presentation of the 2019 Income Statement DOES NOT apply to taxpayers who are obliged to present, in June 2020, the Local Transfer Price Report declaration regarding the 2019 fiscal year.

Remember that:

1. The Sworn statement of Income Tax has box 103 where the amount of adjustment for Transfer Prices must be entered

2. The Virtual PDT 3560 (Local Transfer Price Report) has a screen where you expressly ask if the taxpayer is going to make an adjustment in your Income Tax Declaration, as seen on the attached screen.

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3. D.S. 044-2020-PCM that Declares a State of National Emergency, published on March 15, 2020, does not establish exceptions to the above.

As is public knowledge, yesterday, the Supreme Decree that declares the State of National Emergency in Peru has been published. However, it does not mention any exceptions to the above. Therefore, we recommend that companies have the results of their Transfer Pricing work before the Sworn Declaration of Income Tax, so that, if applicable, the corresponding adjustments can be made, in order to avoid subsequent rectifications, fines and interests.

Personnel from our firm will contact you in order to coordinate the way in which we will continue with the entrusted works, given that in the offices of Peru we will work in the Telework modality.

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