Peru makes progress in auditing transfer prices in the mining sector

11/09/2014

Peru makes progress in auditing transfer prices in the mining sector

EUROsociAL, the programme financed by the European Commission for social cohesion in Latin America led by the FIIAPP, supported an exchange in which Chilean experts shared their experiences with the staff of the Peruvian National Superintendency of Customs and Tax Administration.
Expertas chilenas en la actividad llevada a cabo en PerúChilean experts during the activity held in Peru
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With the aim of strengthening the capacities of the audit body of the National Superintendency of Customs and Tax Administration (SUNAT) in the auditing of transfer prices in the mining sector, the EUROsociAL II Programme, through its operative partner, the Inter-American Centre for Tax Administrations (CIAT), sponsored the visit of two experts from the Chilean Internal Revenue Service (SII) to Lima.

In the course of the technical sessions, the Chilean civil servants covered general topics, such as an introduction to the mining sector, and explained how audits of Transfer Prices in the SII are handled. At the same time, they shared real cases and worked through practical cases with the team of auditors from the SUNAT.

This advising was extended not only to the SUNAT auditors involved in this extractive industry but also to other areas affected by the audit process, such as Claims and the Tax Court. Likewise, from the perspective of tax policy, representatives of the Ministry of Economy and Finance participated.

This activity addresses SUNAT’s need to improve the productivity and performance of its employees as well as to control non-compliance with the IGV and the Income Tax, with the goal of increasing tax collection to 18% by 2016. The exchange came about as a result of the request submitted by Peru to the EUROsociAL II Programme within the framework of the “Voluntary Compliance with Tax Obligations” Action of the “Public Finance Area”, coordinated by the FIIAPP, whose operational partners are the Spanish Tax Agency (AEAT), the Spanish Institute of Tax Studies (IEF) and the Inter-American Centre for Tax Administrations (CIAT).

From here on out, the CIAT, along with the EUROsociAL II Programme partners, will monitor progress, needs and interests that arise as a result of the advising in order to move forward in new activities to support voluntary compliance.