FACULTY OF BUSINESS

PROFESSIONAL SCHOOL OF ACCOUNTING

Income Tax in Peru

AUTHORS:
Montoya Vargas Lisbeth Raquel

ADVISER:
mg. Lozano Rios Marco Antonio

LINE OF RESEARCH:

Taxation

MOYOBAMBA – PERU

2023 - I
I. INTRODUCTION

The income tax was not exactly as we know it today, but it has been
changing over the years. The income tax began in 1799 by Prime
Minister William Pitte, with the sole objective of financing the inevitable
war that would take place against the French empire led by Napoleon
Bonaparte, which is why we could say that the income tax It originated
with the purpose of providing resources for the war and was in force
only in times of war, making it a tax product of necessity.

The income tax is one of the most important taxes in the country;
therefore, its collection is properly structured according to the scheduling
of income, income is influenced by 3 theories which are income-product,
flow of wealth and the increase in wealth by consumption and have a
determining element to recognize this tax.

As far as labor income is concerned, this aspect occupies a crucial

place in the design of the tax system, not only because of its strong
capacity to generate income, but also because labor income is the main
component of income in our country. along with social transfers, it has to
support, due to its effectiveness, the greatest weight to adjust the
distribution of income, the economic environment changes and a tax
that is useful at one moment ceases to be useful at another. In addition,
the economic analysis of taxes has advanced enormously in the last
three decades, especially in the empirical investigation of their effects on
the decisions of economic agents regarding work, consumption,
savings, and investment.
 As is known, there are 5 categories of income tax that are First Category
Income, Second Category Income, Third Category Income, Fourth
Category Income and finally Fifth Category Income. During the course of
the development of this report, each of the categories will be discussed
and practical cases will be developed to understand very easily and be
well informed.

II. DEVELOPMENT
When carrying out work in a dependent or independent manner,
whether as a natural or legal person, you must comply with the
regulations imposed by SUNAT for the adequate payment of monthly
and annual taxes, among which is the Income Tax.
Therefore, it is essential to know the processes that must be carried out
to respond correctly to tax duties and avoid sanctions.
To have a starting point, we will start with the basic concept of the
National Superintendence of Customs and Tax Administration (SUNAT),
which is not only a tax-collecting entity, but also fulfills functions of
managing the internal taxes of the National Government and tax
concepts. and non-tax that are awarded by Law or Inter-institutional
Agreement, where it was attached to the Ministry of Economy and
Finance.
Therefore, the income tax is the tribute paid for the income received
during a fiscal year, in the case of Peru it begins on January 1 and ends
on December 31.
It should be noted that this perceived income may come from:
Leases or other types of assignment of real estate and personal
property
 Shares and other securities
Of the work that is carried out in a dependent and independent
way.
This declaration is made in the month of March and is structured into 5
categories where it is determined who, what types of income and the
levels of taxation will be applied to each case.
These varieties of income are very important to inform us since
according to the type of income you find, you will know what % of your
total income you are going to proceed to cancel the tax debt that we
have, whether you are a natural or legal person.

According to the aforementioned, SUNAT divides these five categories

as follows:

 First Category Income

Regarding the first category income, it is determined that it does not
have the taxable capacity, let's see an example: It is the income
obtained by leasing, subleasing, or transfer of movable or immovable
property.
When you rent your house, apartment, or other real estate, as well as
the rental of vehicles or other personal property, a lease is being made.
In this way, if you are a tenant of a property, you are subletting, among
other activities.
Therefore, if you carry out one of these activities, you are obliged to pay
first-class rent.

 Second Category Income

Example
On December 31, 2019 I predicted the sale of my property for a total of
S/ 123,500.00 and the value of that property acquisition was for a total
of S/ 99,500.00 in January 2016
FIRST STEP
FEM=1.03
99,500*1.03=102,485 updated cost
SECOND STEP
123,500.00-102,485=21,015
STEP THREE
21,015*5%=1,051 TAX TO PAY

 Third Category Income

The business income known as third category income is the one we
hear the most, in this income we have 4 regimes, NURS, PER, MYPE
AND RG, according to these regimes the ones that we can find the most
are those of PER that only pay the 1.5% of monthly rent and do not
make an annual declaration, those of the MYPE pay 1% of monthly rent
as long as their income does not exceed 300 UIT, if there were the case
of exceeding 1,485,000.00, which is equivalent to 300 UIT of income,
they would pay the 1.5% rent
And they are obliged to make an annual declaration, in the case of RG
they pay 1.5% of monthly rent and are obliged to make an annual
declaration, that is why we can say that it is a priority to inform us about
income tax in Peru, let us know The 1% of rent that we pay to the saint.
Therefore, it is considered that, just as in what is IGV they give us about
3 months to pay the tax, the same should be with the income tax since
there are companies that perhaps do not have enough liquidity to cover
the payment on the same day that the tax to be paid is due

 Fourth Category Income

 Fifth Category Income
Miguel had 5th category rental income totaling
S/ 52,600 in the period of 2022 and he also had a housewife to whom
he paid ESSALUD for a total of 899. Do you calculate the tax to pay?

52,600-
32,200 (7UIT deduction)
20,400-
899
19,501
First tranche of 5 UIT= 23,000 8%
19,501
23,000
As in this case the net income is less than 5UIT, the income is taken
and we calculate the 8% to get the tax

19,501*8%=1560

We must also take into account that to calculate the rent on account to
be paid, the cost of sale must be taken and not the sale price since the
IGV is included in the PV
At the same time, know that in the case of the MYPE AND RG
SCHEMES, the rent that is paid monthly is an income on account that
when making an annual declaration, the payments to monthly accounts
that were canceled will be discounted, by subtracting those monthly
payments it will be calculated the total tax to be paid.

LINKS TO PREPARE THE REFERENCES

https://repositorio.uch.edu.pe/bitstream/handle/20.500.12872/606/
Liza_ME_Salvador_LA_tesis_contabilidad_finanzas_2021.pdf?
sequence=1&isAllowed=y

http://biblioteca2.ucab.edu.ve/anexos/biblioteca/marc/texto/AAT5231.pdf
https://repositorio.unsm.edu.pe/bitstream/handle/11458/4343/
CONTABILIDAD%20-%20Yesenia%20Altamirano%20Silva
%20%26%20Jaime%20Tananta%20Garc%C3%ADa.pdf?
sequence=1&isAllowed =y

https://www.veninformado.pe/vivir-en-peru/trabajo/impuesto-a-la-renta/

https://repositorio.upao.edu.pe/bitstream/20.500.12759/930/1/CHUM
%c3%81N_RAM%c3%93N_RENTA_PERSONAS_NATURALES.pdf