PERU: New Tax-Free Zone

Peru has created a new tax-free zone. Certain activities, including manufacturing, agri-business and other industrial activities, in the district of San Ignacio, Cajamarca will not be subject to the following taxes: corporate income tax, value-added tax, excise tax, customs duties, and any other taxes imposed by the Federal Government and local governments. The law came into effect on 15 August 2021, creating Zona Franca de Cajamarca (ZOFRACAJAMARCA) while the implementing regulations are excepted within 30 days.

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