Discusses pricing formula and other fees, value-added tax (VAT), etc.
Last Published: 9/30/2019
Peru is generally an open market with minimal trade restrictions. The imports-weighted average tariff is 1.0% and the simple average is 2.2%. Distributor mark-ups vary according to type of product, but usually ranges between 12% and 25%. All imports are subject to an 18% value-added local sales tax, which can be used as a tax credit by the importer. Some exceptions include enterprises established in industrial free zones and special treatment zones, and companies with operations in the jungle regions of Loreto, Ucayali, Madre de Dios, Amazonas, and San Martin, in accordance with the Peruvian-Colombian Amazon Cooperation Treaty. Some luxury items have higher tariffs and a few specific goods such as cigarettes, beer, wine and liquors pay an excise tax, in accordance with the lists and rates mentioned in Appendices III and IV of Legislative Decree No. 821 (passed on April 23, 1996). In May 2018, a 10% excise tax for new automobiles was established. However, the 30% excise tax applied to used cars was reduced to 10%. Imports from countries with which Peru has bilateral or regional agreements are covered by separate, preferential tariff schedules.
 
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