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PE Tax 2024

Peru Tax Tables 2024 - Tax Rates and Thresholds in Peru

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This page contains the tax table information used for the calculation of tax and payroll deductions in Peru in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ PE, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Peru or would like to add to or suggest amendments to the information herein then please contact us.

Peru Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Peru are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Peru Tax Calculator 2024.

Peru provides an annual "Standard Deduction" that is deducted from your total income to produce your taxable income in Peru in 2024:

Peru Standard Deduction in 2024
Residence StatusStandard Deduction
ResidentPEN 36,050.00
Non-residentPEN 0.00
Peru Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
8%Income from PEN 0.000.00to PEN 25,750.00
14%Income from PEN 25,750.01 to PEN 103,000.00
17%Income from PEN 103,000.01 to PEN 180,250.00
20%Income from PEN 180,250.01 to PEN 231,750.00
30%Income from PEN 231,750.01 and above
Peru Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
30%Flat rate on all taxable income

In Peru, social security deductions paid by employees for pension contributions (whether to the National Pension System - ONP or to a Private Pension Administrator - AFP) are deductible from their gross income for the purpose of calculating taxable income. This means that these contributions can reduce the amount of income subject to income tax, thus potentially lowering the overall tax liability for individuals. This provision encourages participation in the pension system while providing a tax benefit to employees.

Peru Social Security and Payroll Deduction Rates in 2024

In Peru, the social security system is designed to provide comprehensive coverage and benefits to employees, funded by contributions from both employers and employees. This system ensures that workers are supported in various aspects of their lives, from healthcare to retirement. Understanding the types of social security and payroll deductions in Peru is essential for both employers and employees to navigate the system effectively.

Peru Social Security in 2024: Rates for Employers and Employees
Health Insurance0%9%9%
Working Compensation0%9.72%9.72%
Pension Fund13%0%13%
Peru Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees
Health Insurancen/an/an/an/a
Working Compensationn/an/an/an/a
Pension Fundn/an/an/an/a

Health Insurance (EsSalud)

One of the key components of social security in Peru is health insurance, managed by EsSalud. Contributions to EsSalud fund a wide range of healthcare services for employees, including medical, surgical, pharmaceutical, and rehabilitation services. This insurance also covers maternity benefits, providing support to women during pregnancy, childbirth, and postnatal care. Additionally, EsSalud offers support for elderly care and serious health conditions, ensuring comprehensive coverage for beneficiaries.

Pension Contributions (ONP and AFP)

Pension contributions in Peru are directed towards two main systems: the National Pension System (ONP) and the Private Pension System (AFP). The ONP is a pay-as-you-go system, providing retirement, disability, and survivor benefits based on contributions made during the employee's working life. In contrast, the AFP system consists of private pension fund administrators that manage individual accounts, with benefits dependent on the accumulated contributions and investment returns. Both systems aim to provide financial security to retirees, with employees having the option to choose between them.

Unemployment Insurance

Although not as prevalent as other forms of social security, Peru has mechanisms in place to offer protection against unemployment under certain conditions. This includes severance payments and temporary income support to help affected workers navigate periods of joblessness. The specifics of this support vary, and ongoing reforms aim to provide a more comprehensive safety net for the unemployed.

Training and Education Contributions

In addition to health and pension contributions, employers in Peru are required to contribute to training and education funds. These contributions support the development of the workforce, funding vocational training and education programs to improve skills and employability. This investment in human capital is crucial for Peru's economic development and competitiveness.

Occupational Hazard Insurance

Employers in certain high-risk industries are also required to contribute to occupational hazard insurance. This insurance provides coverage for accidents and diseases related to the workplace, including medical care, rehabilitation, and compensation for temporary or permanent disabilities. It ensures that workers in hazardous occupations receive the necessary support and protection.

The social security and payroll deduction system in Peru plays a pivotal role in safeguarding the welfare of the workforce. By providing a wide range of benefits, from healthcare to retirement and occupational safety, the system supports the social and economic stability of workers and their families. Understanding these contributions and their purposes helps employers and employees alike to appreciate the value of the social security system in Peru.

Peru VAT Rates in 2024

VAT rates for Peru are reviewed annually, you can use the VAT Calculator to calculate VAT due in Peru or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Peru VAT Rates
VAT RateVAT Description
18%Standard Rate

Historic Tax Tables supported for Peru

The following tax tables are supported by iCalculator™ PE as part of the suite of free tax tools we provide for Peru.