Peru published Law No. 31969 of 22 December 2023 in the Official Gazette on 30 December 2023, which entered into force on 1 January 2024 and provides for the introduction of new incentives to promote competitiveness and job creation in the textile, clothing, agricultural and irrigation, agro-export, and agro-industrial sectors.
One of the main incentives is a 20% tax credit for the reinvestment of profits, after tax, during the years 2024, 2025, 2026, 2027, and 2028, subject to certain cond…