Summary of the report
The Global Forum rated Peru overall Largely Compliant with the international standard of transparency and exchange of information on requests (EOIR) handled over the period from April 2015 to March 2018.
Peru joined the Global Forum in 2014 and its legal and regulatory framework had been reviewed in 2016 and found in place. The present 2020 report notes that Peru did important progress in establishing the obligation for all relevant entities and arrangement to report beneficial ownership information to the Peruvian Tax Administration. It also considerably expanded the number of jurisdictions with which it can exchange information by becoming party to the Multilateral Convention on Mutual Administrative Assistance on Tax Matters.
For the first time, the implementation of this legal and regulatory framework has been assessed. Most recommendations made to Peru relate to the practical implementation of recent amendments and a closer monitoring of inactive and struck-off companies.
In terms of exchange of information on request in practice, delays in answering EOI requests were noted. Peru must therefore ensure that necessary actions are taken for answering in time to the requests and properly communicating progress to its partners.
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