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Peru Requires Country-by-Country Reports from Multinational Groups Dating Back to FY2017

In a newly published communication from earlier in December 2020, Peruvian tax authorities are now requiring multinational groups to file country-by-country reports from fiscal years 2017, 2018, and 2019. The reports will be due by January 29, 2021, the last business day of the month–a deadline directly resulting from the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes that designated Peru a reciprocal jurisdiction for CbCR exchange.

In an update to the FAQ page on its website, SUNAT, the Peruvian tax agency, told taxpayers they will receive CbC reports from other jurisdictions that have ratified the OECD’s Multilateral Competent Authority Agreement on CbCR exchange from fiscal year 2019. Because the OECD’s rules on reciprocal exchange only apply starting fiscal year 2019, SUNAT will not receive reports for fiscal years 2017 and 2018.