Modification of Annex III for Transfer Pricing Technical Substance

June 14, 2024

Background and Legal Considerations

The National Superintendence of Customs and Tax Administration (SUNAT) has issued Superintendence Resolution No. 000123-2024/SUNAT, dated June 13, 2024, to modify Annex III of Resolution No. 014-2018/SUNAT. This modification focuses on the presentation of the technical substantiation when using a method other than the comparable uncontrolled price in export and import operations of goods specified in Annex N° 2 of the Income Tax Law Regulations.  

Technical Substantiation Requirements

The technical substantiation must reasonably justify the need to use an alternative method, showing how the uncontrolled comparable price method does not adequately reflect the economic and financial reality of the transaction. This analysis must be quantitative and must be performed for each transaction or group of transactions, detailing the corresponding communications and adequately documenting each step of the process.  

Implementation and Validity

The resolution also establishes that this amendment will become effective the day after its publication. In addition, it is indicated that it is not necessary to pre-publish this resolution, since only the Informative Affidavit Local File is adapted to implement the conditions established in the Income Tax Law Regulations.  

Obligations of Taxpayers

Taxpayers must keep the documentation supporting the technical support and submit it to SUNAT when required. This includes valuation analyses, appraisals and other documents that demonstrate the economic, financial and technical reasons that justify the use of a method other than the comparable uncontrolled price.  

Source: This article is based on Superintendence Resolution No. 000123-2024/SUNAT, published in the Official Gazette El Peruano on June 14, 2024.