PERU

On June 17, the Executive branch issued Supreme Decree No. 151-2020-EF on new provisions governing the method for determining the amount of General Sales Tax (IGV) to be levied on the import of goods considered sensitive to fraud.

The decree states that the referential FOB value shall be determined at national subheading level, and calculated based on customs values analyzed by the National Superintendence of Customs and Tax Administration and on the values obtained in inspection processes or price studies.