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Peruvian Tax Authority interprets Non-Discrimination Clause of Multinational Agreement to avoid Double Taxation as not applicable to transfer of Peruvian shares in international reorganizations

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Peru

  • The Peruvian Tax Authority analyzed whether, in a demerger situation between two Colombian entities in which the assets transferred include Peruvian shares, the Non-Discrimination Clause of Decision 578 would apply to invoke the tax-free regime for Peruvian domestic reorganizations.
  • The Tax Authority interpreted that, because the domestic rules for demergers require not only that the spun-off entit…

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