As announced by Peru's Finance Minister on 19 November 2014, a draft law was submitted to the Peruvian parliament on 21 November 2014 that would reduce the country's corporate tax rate and amend the tax brackets and rates for individual income tax.
An initial reduction in the corporate tax rate from 30% to 28% is proposed for 2015, with additional cuts to 27% in 2017 and 26% in 2019.
The proposed brackets and rates for individual income tax are as follows:
- Up to 5 UIT - 8%
- 5 to 20 UIT - …