New Regulations for the Declaration of Beneficial Ownership of Legal Entities

July 8, 2024

Introduction

The National Superintendence of Customs and Tax Administration (SUNAT) has issued a new resolution that establishes an alternative means to the physical format for the declaration of the beneficial owner of legal entities, as well as the modification of the deadline for the presentation of such declaration. This measure seeks to facilitate compliance with tax obligations and improve transparency in the identification of beneficial owners.  

Alternative Means for the Declaration of the Beneficial Owner

The new SUNAT resolution allows the format containing the beneficial owner information to be filed in a digitally signed electronic document. This includes the possibility of using alternative mechanisms to reliably identify the beneficial owners, especially in the case of subjects supervised by the Superintendence of the Securities Market or the Superintendence of Banking, Insurance and AFP.  

Modification of the Filing Deadline

In order to provide more time for legal entities to comply with their obligations, SUNAT has decided to postpone the deadline for the filing of the beneficial owner’s declaration. The new deadlines are in line with the due dates established for compliance with other tax obligations corresponding to the period June 2024.  

Importance of Beneficial Owner Identification

Accurate and transparent identification of beneficial owners is crucial to prevent money laundering and tax evasion. The implementation of these new electronic means and the extension of deadlines are measures that seek to improve efficiency in the management of this information and ensure compliance with current regulations.  

Call to Action

Is your company prepared to comply with the new SUNAT regulations on the beneficial owner’s declaration? At TPC Group, we offer expert advice to ensure your company is compliant with all tax regulations. Contact us today for a free consultation and find out how we can help you streamline your beneficial ownership reporting process.  

Source: National Superintendence of Customs and Tax Administration (SUNAT). (2023). Superintendence Resolution  000236-2023/SUNAT.