5% or 30%: That is the question! Tax treatment of capital gains from the sale of shares on the Lima Stock Exchange

Abstract

This article aims to analyze the application of the reduced rate of 5% on capital gains obtained by non-domiciled parties from operations on the Lima Stock Exchange.

From a strictly legal perspective, the application of this reduced rate is subject to the fulfillment of two specific requirements that do not merit greater doubt as to their compliance. However, a recent Tax Court ruling would seem to introduce a series of additional requirements that would affect the application of the 5% rate and that would put non-domiciled investors in a situation of uncertainty.