Funds, trusts: Through Tax Resolution No. 000140-2024, the due date for legal entities to file the Ultimate Beneficial Owner (UBO) report has been extended.
Previously, the UBO report had to be filed in July, now it must be filed in October.
| Reporting parties | Criteria | Due date |
| Legal entities[1] | Registered in the Peruvian Tax Registry (RUC) as of 30 September 2024. | 16 to 24 October 2024 |
Violations, fines and joint and several liability
| Violation | Fine | Joint and several liability |
| Failure to submit the UBO report or filing it in an incomplete manner or including false information. | 0.6% of the company's Net Revenues. No less than 5 Tax Unit = PEN 25,750.00 or USD 6,850.00 up to a maximum of 50 Tax Units= 257,500.00 or USD 68,250.00 approx. | It will be presumed, unless proven otherwise, that the legal representatives of companies that fail to file the UBO report are guilty of fraud, gross negligence or abuse of authority and, therefore, are jointly and severally liable for the company's tax debts. |
| Failure to comply with UBO due diligence requirements. | N/A |
We hope that this information will be of relevance to you and your company. If you require any further information, do not hesitate to contact us.
[1]Legal entities are considered to be investment funds, mutual funds for investment in securities, trust funds domiciled in Peru, trusts or trust funds incorporated or established abroad with an administrator or protector domiciled in Peru, and consortiums, among others.
