Incentives for private investment
Incentives for private investment
Incentives for private investment
Tax Refund Regime
Description
The regime consists of refunding the General Sales Tax (IGV) that has been transferred or paid for in the operations for the import and/or local acquisition of intermediate goods, capital goods, and construction services and contracts, during the pre-operating stage of the public infrastructure and public service works.
DOCUMENTATION TO BE SUBMITTED TO PROINVERSION:
One application addressed to the Directorate of Investor Services, attaching the following documents:
1. Form, filled out and countersigned by the legal representative.
1 Law N° 28754, published on 06/06/2006; Law N° 30264, published on 11/16/2014; Supreme Decree N° 110-2007-EF, published on 07/30/2007; Supreme Decree No. 067-2015-EF, published on 03/26/2015 and Supreme Decree No. 127-2017-EF, published on 05/07/2017.
EXECUTION OF INVESTMENT CONTRACT ADDENDUM TO APPLY FOR THE SPECIAL REGIME OF GENERAL SALES TAX REFUND 2
Companies that benefit from the regime may submit to PROINVERSIÓN an application for the execution of the Investment contract Amendment Addendum and for the amendment of the Ministerial Resolution through which they were eligible to benefit from the Regime.
Applications for the execution of Investment contract Amendment Addendums shall be submitted to PROINVERSIÓN, within the period of validity of the Investment contract, which will be set out in the agreement for compliance with the investment commitment; and shall be processed in accordance with the applicable procedure for the execution of Investment contracts.
Effects of the approval of the applications submitted regarding the execution of Investment contract Amendment Addendums shall have retroactive effect to the date the application is submitted or the effective date of the addendum of the corresponding Sectoral contract or amendment of the sector authorization, as the case may be, which shall be recorded in the corresponding addendum
DOCUMENTATION TO BE SUBMITTED TO PROINVERSION:
One application addressed to the Directorate of Investor Services attaching the following documents:
1. Form, filled out and countersigned by the legal representative.
2 Law N° 28754, published on 06/06/2006; Law N° 30264, published on 11/16/2014; Supreme Decree N° 110-2007-EF, published on 07/30/2007; Supreme Decree No. 067-2015-EF, published on 03/26/2015 and Supreme Decree No. 127-2017-EF, published on 05/07/2017..
REQUIREMENTS
This regime can be accessed by natural or legal persons investing in any sector of the economic activity, generating Third Category income and complying with the following requirements:
- Sign an Investment contract with PROINVERSIÓN and the corresponding sector for investing in public infrastructure and service works, committing themselves to invest not less than USD 5’000,000.00 during the pre-production stage.
- Obtain the Ministerial Resolution granted by the corresponding sector, approving the persons that are eligible to benefit from that regime, as well as the goods, and construction services and contracts that shall benefit from the Tax Refund.
Beneficiary
Private: Legal persons entering into concession contracts, pursuant to the provisions of Supreme Decree No. 059-96-PCM, and amendments thereof, which are in the pre-operating stage of the Work.
State-owned: Companies of Private Law State of the national, regional and local government carrying out public infrastructure and public service works that are in the pre-operating stage of the work.
Investment Commitment
Investment amount to be executed from the date the application to execute the Investment contract is submitted, in case the pre-production stage of the project has already started by that date; or from the start date of the pre-production stage contained in the investment schedule of the project, in case it starts after the date of the application.
Goods and construction services and contracts
The goods and construction services and contracts acquired from the date of the application to execute the Investment contract, in case the pre-production stage of the project has already started by that date; or from the start date of the pre-production stage contained in the investment schedule of the project, in case it starts after the date of the application.
INITIATION OF THE PROCEDURE AT PROINVERSIÓN
Admissibility
MEF approves lists of goods, services, and construction contracts
PROINVERSIÓN prepares reports on compliance with requirements
Opinion of the Competent Sector
Publication of Ministerial Resolution
REQUEST FOR ACCESS TO THE VAT TAX REFUND REGIME
- Completed form, endorsed by the legal representative. Download Form.
- Descriptive report and budget of the project.
- Investment Commitment and proposed execution schedule required for the Project; including the identification of stages, sections, or similar components; as well as the period for samples, tests, or trials, if applicable, specifying the quantity, volume, and characteristics of each item. The proposed execution schedule must be detailed on a monthly basis and rounded to whole numbers. The schedule must be submitted in printed form and as a digital version in Excel format.
- Proposed list of capital goods and intermediate goods, services, and construction contracts, indicating the current national subheading and its correlation with the Classification by Use or Economic Destination (CUODE) applicable in each case, as well as the list of services and construction contracts indicating the codes of the International Standard Industrial Classification (ISIC) to which they correspond; explicitly demonstrating that they are necessary and directly linked to the execution of the Project. The list must be presented in printed form and in digital version in Excel format.
- Simple copy of the Concession Contract, in the case of concessionary companies; of processes that have not been conducted by PROINVERSIÓN.
- Notarized copy of the Power of Attorney accrediting the legal representative’s authority to request enrollment in the Regime, where applicable.
- Notarized copy of the Public Deed of Incorporation of the Applicant, registered with the National Superintendency of Public Registries – SUNARP, in the case of a legal entity, if applicable. In the case of an associative contract, a notarized copy of the respective contract must be submitted.
REQUEST FOR MODIFICATION OF THE MINISTERIAL RESOLUTION FOR ACCESS TO THE VAT REFUND REGIME
The conditions of the Investment Commitment contained in the Ministerial Resolution that approved the qualification for access to the Regime must be amended when it is necessary to establish a higher amount or a longer term than initially committed.
Requests for the modification of the Ministerial Resolution must be submitted to PROINVERSIÓN within the validity period of the Regime, which is that established in the said Ministerial Resolution for the fulfillment of the Investment Commitment, and are processed in accordance with the procedure applicable for the approval of requests for access to the Regime.
Documentation to be submitted to ProInversión
- Completed form, endorsed by the legal representative. Download Form.
- Proposed Execution Schedule of the investment commitment required for the execution of the Work, in stages, sections or similar, and the period of samples, tests or trials, if applicable, indicating the quantity, volume and characteristics of said concepts. The amounts must be detailed on a monthly basis, adjusted without decimals. The schedule must be submitted in printed form and as a digital version in Excel format.
- Where applicable, a copy of the Concession Contract Addendum or the Sector’s acceptance of the force majeure or fortuitous event, or, if not available, a copy of the corresponding request in process.
- Power of Attorney accrediting the legal representative’s authority of the Beneficiary.
SUBSCRIPTION OF INVESTMENT CONTRACT ADDENDUM TO PARTICIPATE IN THE SPECIAL REGIME FOR VAT REFUND
Documentation to be submitted to ProInversión
- Completed form, endorsed by the legal representative. Download Form.
- Proposed Execution Schedule of the investment commitment required for the execution of the Work, in stages, sections or similar, and the period of samples, tests or trials, if applicable, indicating the quantity, volume and characteristics of said concepts. The amounts must be detailed on a monthly basis, adjusted without decimals. The schedule must be submitted in printed form and as a digital version in Excel format.
- Where applicable, a copy of the Concession Contract Addendum or the Sector’s acceptance of the force majeure or fortuitous event, or, if not available, a copy of the corresponding request in process.
- Power of Attorney accrediting the legal representative’s authority to sign the requested Addendum on behalf of the Beneficiary.