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PE Tax 2024

iCalculator™ PE: Peru Tax Calculators

Welcome to iCalculator™ PE, your comprehensive suite of free tax calculators for Peru. iCalculator™ has provided free tax calculators for Peru since 2019. Since those early days we have extended our resources for Peru to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Peru Tax Calculator and salary calculators within our Peru tax section are based on the latest tax rates published by the Tax Administration in Peru. In this dedicated Tax Portal for Peru you can access:

Peru Tax Calculator 2024/25

The Peru Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Peru. This includes calculations for

  1. Employees in Peru to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Peru.
Peru Tax Calculator 2024
*** Please enter your employment income ***
Advanced Peru Salary Calculator 2024

Discover Peru

Peru is strategically nestled in the western part of South America, bordered by Ecuador and Colombia to the north, Brazil to the east, Bolivia to the southeast, Chile to the south, and the Pacific Ocean to the west. This geographic diversity, ranging from the arid plains of the Pacific coastal region to the peaks of the Andes mountains and the tropical Amazon Basin, has fostered a rich cultural and biological diversity. Peru is a country with a storied past, home to ancient civilizations like the Inca Empire, and today, it's a melting pot of indigenous, Spanish, and other immigrant cultures, reflected in its languages, traditions, and culinary arts.

The Peruvian economy is among the most dynamic in Latin America, characterized by a wide range of industries including mining, manufacturing, agriculture, and services. Peru is one of the world's largest producers of silver, copper, and gold, which significantly contributes to its economy. The country's varied climate and landscapes allow for the cultivation of a wide range of crops, from potatoes and maize in the Andes to tropical fruits in the Amazon, making agriculture a vital sector as well.

Mining remains a cornerstone of the Peruvian economy, with the country being rich in mineral resources. This sector attracts significant foreign investment and generates a substantial portion of Peru's export revenues. Agriculture also plays a crucial role, with Peru being a leading exporter of asparagus, quinoa, avocados, and grapes, among other produce. The country's diverse climates support the cultivation of a vast array of products, catering to both domestic consumption and international markets.

The services sector, particularly tourism, finance, and telecommunications, has shown significant growth. Tourism is buoyed by Peru's rich cultural heritage, including UNESCO World Heritage Sites like Machu Picchu and the historic city of Cusco, drawing millions of visitors annually. The financial services sector is robust, with Lima serving as a key financial center in the region.

In recent years, Peru has made strides in diversifying its economy, with investments in non-traditional export sectors like textiles, agro-industry, and fishery. The country's rich marine biodiversity makes it one of the leading fish and seafood exporters globally, particularly of fishmeal and fish oil. The government has also been working on improving infrastructure and reducing bureaucratic hurdles to foster a more business-friendly environment, encouraging both domestic and international investments.

Neighboring Countries

Tax Overview of Peru

Peru's tax system is multi-faceted, designed to support the country's social and economic objectives. It includes a range of taxes applicable to both individuals and businesses, with the aim of fostering a fair and efficient tax environment. The Peruvian government levies income tax, general sales tax (GST), and selective consumption taxes, among others, to fund public services and infrastructure projects.

Income tax in Peru is progressive for individuals, meaning that the rate increases as income rises, ensuring a fair contribution from all taxpayers. This system applies to both residents and non-residents, although residents are taxed on their worldwide income, while non-residents are taxed only on their Peruvian-source income. Businesses in Peru are subject to corporate income tax on their net income, with specific rules governing the taxation of multinational companies and those operating in special economic zones.

The General Sales Tax (GST) is a value-added tax applied to most goods and services sold or imported into Peru. This tax is a significant source of revenue for the government, funding a variety of public services. In addition to GST, selective consumption taxes are levied on specific goods, such as alcoholic beverages, cigarettes, and luxury items, to discourage their consumption.

Peru also imposes property taxes, which are collected by local municipalities and based on the assessed value of real and personal property. This tax contributes to local development projects and services. Additionally, Peru has implemented various tax incentives and exemptions aimed at promoting investment in key sectors such as agriculture, mining, and tourism, as well as in regions that require economic development.

International taxation agreements play a crucial role in Peru's tax system, helping to avoid double taxation and encourage foreign investment. Peru has signed numerous tax treaties with other countries, facilitating cross-border trade and investment by providing more predictable tax frameworks for international businesses.

The administration of taxes in Peru is overseen by the Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT), which is responsible for tax collection, enforcement of tax laws, and providing assistance to taxpayers. SUNAT's efforts to digitize tax filings and payments have streamlined the tax compliance process, making it more efficient for individuals and businesses alike.

For those looking to delve deeper into the specifics of Peru's tax system, including the latest tax tools and tax tables, our tax hub offers a comprehensive resource. This platform provides valuable insights and calculators designed to assist with tax planning and compliance in Peru.