Second National Reconcilation Study EITI Peru - unofficial…
Second National Reconcilation Study EITI Peru - unofficial… Second National Reconcilation Study EITI Peru - unofficial…
Consultoría para la Elaboración del Segundo Estudio Nacional de Conciliación de la Iniciativa de Transparencia para las Industrias Extractivas (ITIE) en el Perú (2008 – 2010) (continuación) - Collections Agent: SUNAT. - Distributors: DGDFAS - MEF (formerly DGAES – MEF), PCM, DGTP – MEF. 1.4 Calculation Base Income tax = Income tax - Taxable Base x Rate Income Tax is calculated based on the taxable rate of a given year, which is the aggregate of reported earnings and additional concepts for the period less the tax deductions indicated by Law and the current Income Tax Code. All the contributors’ taxable income that is subject to income tax according to legal directives is considered domiciled in the country despite the nationality of natural persons, the location in which the company was chartered or the location of the productive source. Companies that are fiscally registered in Peru are seen as domiciled in the country. In general, the Income Tax rate for juridical persons domiciled in the country is 30% (applicable during the 2008-2010 period subject to analysis). The mining canon is the equivalent to 50% of the Income Tax obtained from the State and paid by mining companies for the right to exploit mineral, metallic and non-metallic resources (applicable for the 2008-2010 period subject to analysis. 1.5 Periodicity Calculation - - Income Tax: Annual - Mining Canon: Annual Collections - - Income Tax: Monthly through advance payment collections on Income Tax. Income Tax payments are regularized annually. Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú 40
Consultoría para la Elaboración del Segundo Estudio Nacional de Conciliación de la Iniciativa de Transparencia para las Industrias Extractivas (ITIE) en el Perú (2008 – 2010) (continuación) Distribution - - Mining Canon: Annually as of 2006. During the years 2004 and 2005, the mining canon was distributed monthly; payments were the equivalent of one twelfth of (1/12) of the canon. 1.6 The Canon’s utilization The resources that the local and regional governments receive form the Canon will be used exclusively to cover investment expenses. Resource use is governed by applicable directives of the National System of Public Investments. According to the Canon Law, regional governments must allot 20% of what they perceive to public universities in their areas. 2. Procedures in the process to collect Income Tax and distribute the mining canon 2.1 Collections Companies calculate the Income Tax they will pay in their Annual Sworn Declarations by means of the Annual Declaration that is administered by the collections agent, SUNAT. Companies make monthly advance payments on their income and regularize the annual income tax payment and period-end by way of the Annual Sworn Declaration. This annual sworn declaration in presented to SUNAT in March and April of the year following the declaration period. The Income Tax levied for the period (the amount that is used as the basis for the distribution process) corresponds to the amount calculated for Income Tax net credits without the right to devolution (boxes 504 and 516 of the Annual Sworn Income Tax Declaration respectively). Companies can present Rectifying Declarations and Substitute Declarations in lieu of the Annual Sworn Income Tax Declaration. Substitute declarations are declarations that integrally replace the Sworn Declarations that were presented by the companies prior to the expiration date set by SUNAT. Rectifying declarations, on the other hand, are presented by companies after the date set by SUNAT. For the effects of this study, we have considered the Substitute Declarations and Rectifying Declarations that SUNAT uses to provide information to DGDFAS - MEF (formerly DGAES-MEF) for the corresponding distribution, which usually takes place between the months of April and May. 2.2 Distribution Presentation DDJJ prior to the deadline Substitute Declarations Rectifying Declaration Deadline for the DDJJ For distribution purposes, MEM provides MEF with information on the title or concessions holders or mining companies that engaged in natural resource extractions during the taxable period, their Tax Indentification Number (RUC) and the district location of the resource exploited. Once MEF has this information, it asks SUNAT to indicate the amounts that these taxpayers have paid for Income Tax purposes. The figures that SUNAT reports consider the Rectifying Declarations and Substitute Declarations that it has received to date (usually at the end of April or beginning of May). MEF then Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú Presentation after the original DDJJl Date to remit information to DGAES-MEF 41
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Consultoría para la Elaboración del Segundo Estudio Nacional de<br />
Conciliación de la Iniciativa de Transparencia para las Industrias<br />
Extractivas (ITIE) en el Perú (2008 – 2010) (continuación)<br />
- Collections Agent: SUNAT.<br />
- Distributors: DGDFAS - MEF (formerly DGAES – MEF), PCM, DGTP – MEF.<br />
1.4 Calculation Base<br />
Income tax =<br />
Income tax -<br />
Taxable Base x Rate<br />
Income Tax is calculated based on the taxable rate of a given year, which is the aggregate of<br />
reported earnings and additional concepts for the period less the tax deductions indicated by Law<br />
and the current Income Tax Code.<br />
All the contributors’ taxable income that is subject to income tax according to legal directives is<br />
considered domiciled in the country despite the nationality of natural persons, the location in which<br />
the company was chartered or the location of the productive source.<br />
Companies that are fiscally registered in <strong>Peru</strong> are seen as domiciled in the country.<br />
In general, the Income Tax rate for juridical persons domiciled in the country is 30% (applicable<br />
during the 2008-2010 period subject to analysis).<br />
The mining canon is the equivalent to 50% of the Income Tax obtained from the State and paid by<br />
mining companies for the right to exploit mineral, metallic and non-metallic resources (applicable for<br />
the 2008-2010 period subject to analysis.<br />
1.5 Periodicity<br />
Calculation -<br />
- Income Tax: Annual<br />
- Mining Canon: Annual<br />
Collections -<br />
- Income Tax: Monthly through advance payment collections on Income Tax. Income Tax<br />
payments are regularized annually.<br />
Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú<br />
40
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