Experts indicate the changes in tax regulations that taxpayers should take into consideration, as they could affect their income. They also warn of the possible increase in inspection of natural persons and the actions to be taken in this regard.

2023 brings with it a number of changes in tax matters that companies and taxpayers, in general, should take into account, as they may bring higher costs that could be avoided in the future. But which are the most important?

As Jorge Picón, a partner at the Picón study, explains, one of the most important aspects that companies must take into consideration by 2023 is the entry into force of the regulation that creates the figure of subjects without operational capacity.

When a company is classified as a subject without tax capacity, the operations carried out with it will not allow the exercise of the right to tax credit or any other right or benefit derived from the IGV or to support costs or expenses for purposes of Income Tax.

As explained by the lawyer, “the rule will have a very negative effect on companies in sectors such as construction and mining, as well as those companies with high turnover” because “it has the ability to ignore the expenses made by companies retroactively until March 2023.

Previously, a group of lawyers had already come out against this rule and even pointed out that it would be unconstitutional. However, to date, there is no claim against him filed before the Constitutional Court.

Joint Ventures

Another aspect to consider is the change made to joint ventures and its tax consequences.

In March of this year, a rule was published that, according to some experts, such as Álvaro Arbulú, partner at EY Law, would kill the use of the figure and substantially reduce investments.

In a partnership by participation one of the participants: the associate contributes goods, capital or services to a business, while another manages it.

When the business produces income, the partner grants the corresponding profit, known as participation, to the partner. Previously, said amount was deducted as an expense by the partner from the tax base of the Income Tax, but this will no longer be the case as of 2023.

Legislative Decree 1541 establishes that the participation is a “dividend distribution”, therefore it is not deductible and, in addition, it is subject to a payment of Income Tax with a rate of 5%.

In this regard, Jorge Dávila, partner of the Olaechea study, points out that the figure was highly used in sectors such as construction, real estate and logistics, but now it would be necessary to evaluate whether it would be beneficial to use it or not.

For his part, Picón points out that the figure is now “very dangerous” in how it is designed, which is why he suggests that people who are going to carry out one of these contracts or already have one underway to consider it carefully.

information exchange

On the other hand, Picón warns that as of this year, banking information began to arrive from around the world regarding Peruvian taxpayers as a result of the Common Reporting Standard (CRS), an information exchange program of the OECD, which will lead to greater control. by the Sunat.

“The Sunat will now know the placements that people have in other jurisdictions since 2019, so a priority would be to start regularizing documents,” he points out.

He indicates that people must “provide documentation that explains why they did not pay taxes in past years or because they paid less than what the Sunat believed they should do.”

“There are not a few people who had placements throughout the world who will be affected by this exchange of information,” he adds.

Stocks buyselling

On the other hand, Dávila explains that there will be important changes in the share trading market as a result of a rule that comes into force in 2023 that affects their valuation.

“Previously, its value was based on equity participation, that is, it functioned as a photograph of a certain moment in the company. Now, what has been done is to use the cash flow to value the shares”, explains the lawyer.

According to the lawyer, this better reflects the market value of the shares but will bring about a change that companies looking to acquire others or dealing with the sale of shares should consider.

On the other hand, it is necessary to indicate that the losses of 2020 can still be used until 2025, thanks to an extension granted by the Executive, so it would not be necessary for companies to use them yet.

Source: Management