Peru has published Legislative Decree No. 1425 in the Official Gazette, which amends the Income Tax Law to establish a definition of accrued income for tax purposes and provide legal certainty.
Under the Income Tax Law, third category (business) income is considered produced in the business year it is accrued. The Decree adds to this to provide that for this purpose, income is understood to be accrued when the events for its generation have substantially occurred, provided that the right to…