"Tax cuts denote the Peruvian government is acting investment-friendly. This will bolster investor confidence," claimed Kallpa Securities SAB general manager Alberto Arispe on Friday.
“It is a dynamic and friendly measure towards investments and markets. It is remarkable that, while in Chile tax rates increase, in Peru those are lowered,” expressed Arispe.
On November 6 this year, the Council of Ministers authorized the fourth stimulus package worth 1.6 billion Nuevos Soles (about US$547 million) to boost the Peruvian economy.
Part of the aforementioned package consists in lowering personal and corporate income tax rates progressively from 30% (current rate) to 28% in 2015; 27% in 2017; and 26% in 2019.
If approved by Congress, the measures would enter into force in 2015.
“This would mean bolstering consumption. More money will be put in people’s pockets,” Arispe pointed out.
The same package promotes public spending worth around US$ 1 billion.
(END) JJN/JJN/MVB
Published: 11/21/2014