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In the auditorium of our offices in Lima, Mr. Ronald Huambo, Manager of the firm, explained to participants about the scope of the "Benefit Test" and the so-called "low value adding services". The benefit test is a new formal obligation that is established in the Peruvian Tax Legislation, from fiscal year 2017, in order to be deducted as an expense or cost, for purposes of Income Tax calculation. On the other hand, Transfer Pricing Regulations in Peru also states from 2017 that certain services will be considered as "low value added" and establishes a special treatment in order to verify that is according to Arm’s Length Principle.

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