Peru Legislative Decrees Published Implementing 2017 Corporate and Individual Tax Reform Measures

A series of legislative decrees have been published in Peru's Official Gazette for the implementation of a number of tax measures for 2017. The main corporate and individual tax measures include:

• The corporate tax rate is increased from 28% to 29.5% (Legislative Decree No. 1261);
• The dividends withholding tax rate is reduced from 6.8% to 5% (Legislative Decree No. 1261) (note - dividends paid out of profits earned between 1 January 2015 and 31 December 2016 remain subject to the 6.8% rate, w…