Objective is to promote research, development and innovation, as well as construction.
As part of the Peru Impulse Plan, the Ministry of Economy and Finance (MEF) presented two new projects, this time in the tax area, which aim to encourage private investment in scientific research, technological development and technological innovation projects, qualified and authorized by the National Council for Science, Technology and Technological Innovation (Concytec).
In addition, the initiatives seek to promote private investment in buildings and construction, as well as in electric vehicles.
Bill No. 03156/2022-PE extends the Law that Promotes Scientific Research, Technological Development and Technological Innovation (No. 30309) to make the tax incentive more attractive to companies, especially small and micro-enterprises, to so that they can allocate more resources to investments in new technologies, which will increase their competitiveness and productivity.
The proposal seeks to extend the validity of Law No. 30309 until December 31, 2025, considering that it expires at the end of this year.
According to the MEF, it is necessary to promote the continuity of this standard, improving its application, given that investment in R&D barely represents 0.17% of gross domestic product (GDP), while the average for Latin America is 0.7%.
Repeal
On the other hand, given the underuse of the tax benefit, the project proposes to repeal the limit established on the maximum total amount that companies can deduct together for each fiscal year.
It is currently set at 49,300 tax tax units (UIT); In addition, to give certainty to taxpayers, projects approved within the term of validity of the rule may apply the additional deduction until December 31, 2027.
Temporary regime
The second legislative initiative presented is Bill No. 03155/2022-PE, which establishes a temporary depreciation regime for buildings, constructions and electric vehicles, through which special depreciation rates are exceptionally established, in order to allow that taxpayers of the general income tax regime (IR) can accelerate the depreciation of the aforementioned assets.
According to the MEF, accelerated depreciation is not a permanent waiver of taxes, but a temporary deferral in the payment of IR. Thus, the taxes to be paid for a higher expense in depreciation of a certain asset are reduced, which promotes investment in the aforementioned assets, in line with the Peru Impulse Plan, which seeks to promote private investment as a catalyst for economic activity.
Data
With these two projects, there are already four initiatives presented to Congress. The other two are an initiative that seeks to facilitate investments in peasant communities in which natural resources are exploited; and the other proposes to modify the Law of Works for Taxes so that entities of all levels of government carry out works using this mechanism.
Source: The Peruvian
