MORE THAN US$660 MILLION OF PRIVATE INVESTMENT FACILITATED SPECIAL REGIME OF EARLY RECOVERY OF IGV
Lima, December 16, 2024.- A private investment of US$60 billion in 265 projects facilitated the Regime of Early Recovery of the General Sales Tax (RERAIGV) that The Private Investment Promotion Agency - PROINVERSIÓN has been promoting for 17 years (2007 – December 13, 2024).
In this period, the tax benefit facilitated investments in important projects such as Las Bambas (US$6,625 million), Operation and Maintenance of a Peru LNG Natural Gas Processing Plant (US$3,250 million), modernization of the Multipurpose North Terminal at the Callao Port Terminal (US$1,233 million) and the Port of Chancay, Quellaveco mining project and the license contract for the exploitation of hydrocarbons of Lot 56 of Pluspetrol, among others.
That is, investments through this facilitating tool made it possible to strengthen strategic sectors such as mining, hydrocarbons, transport and electricity, while generating employment and boosting the national economy.
Only in 2024, January – December 13, about 11 projects accessed the RERAIGV and managed to mobilize an investment of US$669 million, in which the public-private collaboration for the execution of the project "500 Kv Transmission Line Piura Nueva – Frontera Substation" (US$167 million) stands out, crucial in Peru's commitment to the modernization of its energy networks, as well as the Lupi Photovoltaic Power Plant (GR Vale S.A.C.) and the Keda Perú Glass Manufacturing Plant project (KEDA Perú Buildings Materials Company S.R.L.).
The RERAIGV is a key tool that allows investment project holders to recover in advance the VAT associated with the acquisitions and imports of goods, services and construction contracts used during the pre-operational stage of the projects. This mechanism provides liquidity, helping to alleviate financial costs and ensure the continuity of investments.
The mechanism is open to all natural or legal persons holding investment projects: private or public-private (concessions, projects in assets, private initiatives), in any economic sector in Peru.
The agency reaffirms its commitment to Peru's economic growth, promoting a favorable climate for private investment and offering incentives such as RERAIGV. With tangible results and a clear vision, this initiative consolidates Peru as an attractive and competitive destination for private capital worldwide.
Source: Press Release – PROINVERSIÓN