Executive Branch regulates information regime on final beneficiaries of investment funds
11 enero 2019

On January 8, the Executive Branch, through Supreme Decree 003-2019-EF, approved the regulation of Legislative Decree 1372, which concerns the responsibility of investment funds to inform the National Superintendence of Customs and Tax Administration (NSCTA) of the identity of their final beneficiaries. This system is part of a policy to combat tax evasion, tax avoidance and money laundering.  

 

The regulation applies to investment funds constituted in the country as well as foreign ones, as long as the latter have some physical link to Peruvian territory. Such links include the residence in Peru of a natural or legal person who has the status of protector or administrator of the fund.

 

Of particular, interest in terms of constituting final beneficiaries of investment funds are those natural persons who have the character of settlor, trustee, and/or beneficiary.

 

The text also covers the information to be provided on each final beneficiary according to the control it exerts over a percentage of the capital of the investment fund.

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