SUNAT has intensified its efforts in Transfer Pricing oversight, issuing inductive letters to taxpayers to file the Informative Affidavit Report Local File (DJIRL) 2023. Given this more proactive stance by SUNAT, it is essential that companies are aware of their obligations to avoid penalties and comply with current regulations.
Transfer Pricing Enforcement: A Strict Approach
SUNAT is reinforcing the control over Transfer Pricing by issuing inductive letters to taxpayers that present inconsistencies in their tax information. In these communications, the filing of the DJIRL corresponding to fiscal year 2023 is requested. The period granted is of only 10 business days to regularize such filing or, otherwise, to file the discharges through the virtual desk.
In the written response to be submitted, the names of the verifier and/or supervisor of the Auditing Management of the corresponding Intendance, who are in charge of carrying out this control action, must be included.
OECD Guidelines and their Impact on Peru
With the adoption of the OECD guidelines on Transfer Pricing and International Taxation, companies in Peru must be prepared for a more rigorous and detailed control on Transfer Pricing. This includes the correct documentation and justification of intercompany transactions, ensuring that the agreed prices are in line with market value.
Consequences of non-filing of the Local File
Failure to file the DJIRL within the established deadlines is 0.6% of the Company’s Net Income, in accordance with article 176 numeral 2 of the Tax Code.
The penalties are graduated by 100% if they are voluntarily corrected before the Tax Administration notifies, according to the Annex of the Gradualness Regime in force. However, the sending of inductive letters could be the beginning of the opening of an audit and/or inspection process, so it is crucial that taxpayers manage this obligation promptly.
Call to Action: Keep your Company Protected and Avoid Penalties
If your company has received an inductive letter from SUNAT or you need advice on the preparation and filing of the DJIRL 2023, TPC Group is here to help. Contact us for a personalized consultation and ensure your company is in compliance with Transfer Pricing regulations.
For more information on how we can help you comply with your tax obligations, visit us here.
