Congress of Peru will reward investment in R+D+i

The Peruvian congress approved the opinion of the Economic Commission that extends the tax benefits in favor of companies that promote scientific research, as well as technological development and innovation (R+D+i).

Specifically, the modification to Law 30309 was approved with 99 votes in favor, abstaining from the second vote, expanding the deductions for the payment of Income Tax to taxpayers who carry out projects that promote R+D+i as well as The term of validity of the same will now be until December 2025.

Thus, it is established that taxpayers/companies with net income that does not exceed 2,300 tax units (UIT) and that spend on scientific research, technological development and technological innovation projects will have the following deductions: 240% if the project It is carried out directly by the taxpayer or through scientific research, technological development or technological innovation centers domiciled in Peru, with the favorable report of Concytec or the respective body. The current rate until this year was 215 percent.

190% if the project is carried out directly by the taxpayer or through scientific research, technological development or technological innovation centers not domiciled in Peru, with a favorable report from Concytec or the respective body.

While taxpayers/companies whose net income exceeds 2,300 UIT and who spend on scientific research, technological development and technological innovation projects will have the following deductions: 190% if the project is carried out by the taxpayer directly carried out by the taxpayer or through scientific research, technological development or technological innovation centers domiciled in Peru, with the favorable report of Concytec or the respective body. The current rate until this year was 175 percent.

160% if the project is carried out through scientific research, technological development or technological innovation centers not domiciled in Peru, with a favorable report from Concytec or the respective body.

The opinion approved today was presented by the Castillo government, which estimated that if the increase in rates for the deduction for investment in R+D+i is approved, the annual fiscal cost would be 11 million soles by 2023, 12 million in the 2024 and 13 million in 2025.