In Peru, businessmen involved in the export and import of goods with prices established in international markets must file an affidavit to SUNAT, including specific information. In addition, an amending notification must be filed in cases of non-imputable variations in export transactions. This article will address the regulations and key aspects related to these notifications.
Considerations of Supreme Decree No. 327-2022-EF
Supreme Decree No. 327-2022-EF clarifies the details of the information to be recorded in the affidavit notification, mandatory for taxpayers performing export or import transactions of goods with known quotations in international, local, or destination markets.
This is established in Annex 2 of the Income Tax Law Regulations. In addition, this decree has amended the Sole Transitory Complementary Provision of D.S N°340-2018-EF and Article 113-A of the Income Tax Law regulations, addressing the pricing in export and import transactions of goods with a known quotation.
Requirements and Format of the Notification
The notification requires detailing the terms agreed upon in contracts containing key information, such as identification of the counterparty, characteristics of the contract, signing date, validity, quotation date, type and description of the good specifying the tariff subheading, unit of measure and quantity, terms and conditions of delivery, customs regime with the DAM (Declaración Aduanera de Mercancías – Customs Declaration of Goods) number, transaction amount, other conditions that may affect the final price, and finally, indicating the corresponding method if different from the CUP one employed.
Likewise, the notification must include, in digital format, the contract recording the terms agreed upon among the parties, as well as any other document modifying or clarifying such terms or adding content up to the date of the notification filing. In addition, the notification will be carried out for each delivery of goods, even partial deliveries. In this regard, an agreement among the parties could generate several notifications due to several deliveries of goods planned for the future. In addition, the transaction must be evaluated to determine whether it is within the Transfer Pricing scope to notify.
Modifying Notification in Exports
The Modifying Notification for export transactions must be filed when the information regarding the agreed incoterm, the port of arrival, or the identification of the recipient of the export varies due to the conditions of the transaction and/or causes not attributable to the taxpayer.
It should be noted that the notification may be modified up to the third business day after the completion date of the landing in the country of destination or up to the thirtieth business day after the completion of the shipment in Peru, depending on which of these conditions occurs first.
Application of a Different Method
The regulations specify that in case of applying a method other than the Comparable Uncontrolled Price, the taxpayer must explain it through technical support in the informative affidavit, Local Report. This document must detail the economic, financial, and technical reasons, the lack of comparables, or the qualitative and quantitative effects that result in the loss of reliability in the application of the traditional method.
Characteristics of Incomplete Notifications
- Lack of documents in digital format supporting the terms agreed upon by the parties.
- Partial recording of all the information required by paragraph 3.1 of DS N°327-2022-EF.
- Unattached translations as indicated in the regulations.
- Information excluded from the notification, verified and/or audited by SUNAT.
The export and import transactions of commodities with related counterparties or those located in non-cooperating, low-tax, or no-tax countries or territories are quite sensitive regarding Transfer Pricing in Peru due to the great effect they have in macroeconomic terms, allowing the entry of foreign currency, in addition to being an important factor in private investment.
Finally, it should be noted that until the superintendence resolution comes into force, the notification must be filed using the latest version of the XLS format that SUNAT posts on its website as of the filing date, without the need to submit the supporting documentation.