The Peruvian Congress is making progress in adapting its tax system: one of the necessary reforms for its admission to the Organization for Economic Cooperation and Development (OECD). In December 2017, the Economy Committee of the Peruvian Congress created the Working Group for Peru’s entrance into the OECD.

The group is conformed by the congressman Guido Lombardi (Peruanos por el Kambio – government party), the Marisa Glave (Nuevo Perú – opposition party), Jorge Del Castillo (APRA – opposition party), Miguel Torres Morales and Percy Alcalá (both, Fuerza Popular – opposition party).

In May, the Working Group will focus on the tax evasion problematic, the tax system for medium and small enterprises (SMEs) and the expansion of the tax base. In June, the Committee will present a final report with the proposals to advance in the regulatory adaptation.

The head of the National Superintendency of Customs and Tax Administration (SUNAT), Víctor Shiguiyama, estimated that a review of the tax benefits could increase the tax collection by approximately US $ 2,477 million. Additionally, Congressman Miguel Torres said that the Congress will review the tax exemptions contemplated in the Income Tax Law, which expires on December 31st, 2018.