Economy and Finance Minister Alfredo Thorne has announced three tax-related decrees, recently passed by the Executive Branch, including an income tax deduction of up to 10 tax units (UITs) for natural persons.
“We have made changes in income tax for natural persons. As you know, the Congress gave us special powers to allow the deduction of certain expenditures, promote further use of invoices and enhance tax compliance,” he said.
At the end of the Council of Ministers session, Thorne addressed the press and mentioned the areas where deduction will be applicable:
-Rental expenses and interest rates on mortgage loans for a first home.
-Doctors and dentists’ income.
-Professional services generating fifth category income.
-Contributions to EsSalud (Peru’s social security health insurance program).
“This applies for those who attempt to deduct more than the 7 UITs allowed by law. Now they are able to deduct 3 additional UITs. That is, 10 UITs in total,” Thorne explained.
(END) CNA/JJN/RMB/MVB
Published: 12/7/2016