Peru is set to see nearly PEN 3 billion in new tax revenues every year, as the government announces a new mining tax to be imposed in the country. In an address to the Congress of Peru on August 25th the country’s Prime Minister Salomon Lerner Ghitis said that an agreement has been reached with the nation’s mining sector regarding the issue of a new windfall tax. The new tax comes as a fulfillment of the campaign promises made by President ... Read More

Peru is currently discussing a new tax on mining projects, in an effort to raise more funds for the country’s poorest regions. In a series of interviews held with national media on August 1st the Finance Minister of Peru Luis Miguel Castilla revealed that the government hopes to instate a new tax on mining operations in the country by the end of the year. According to the Minister, the introduction of the new tax is one of the primary short term priorities ... Read More

Peru is experiencing significant levels of growth in tax revenues this year, and is expected to see an overall budgetary surplus in 2011. According to a statement released by Peru’s tax agency SUNAT on March 22nd, the country's overall tax collections grew by 17.1 percent in February, compared to the same month last year. Total tax and customs collections by the central government for the month amounted to PEN 1.59 billion (approx. USD 1.86 billion). In a statement SUNAT commented on the results, saying, ... Read More