The Executive Branch this Friday, September 23 introduced one of the bills that must go through republic congress And it’s part of the reactivation plan Peruvian impulse. The presented initiative seeks, in an extraordinary and temporary manner, to establish special depreciation regimes, which are in line with the ordinary income tax (IR) regime, with the aim of promoting taxpayer private investment and providing greater liquidity to the current economic sector. Can accelerate the depreciation of some assets. Situation.
In detail, accelerated depreciation is proposed for buildings and other constructions as well as vehicles, so as to encourage private investment In productive infrastructure and in cars with clean technologies.
What are the offers about?
In case of special arrangement for depreciation of buildings and constructions, it is proposed to reduce the investment made in 2023 and 2024 from 20 to three years.
Thus, “buildings and constructions can be depreciated, for IR purposes, by applying an annual percentage of depreciation on their value up to their total depreciation up to a maximum of 33.33%, provided the asset is specifically earmarked for commercial development.” and fulfill certain conditions”, as per the initiative of the government.
Thus, it allowsTaxpayers can apply an annual percentage of depreciation to the value thereof with a maximum of 33.33%The proportion exceeding the maximum depreciation limit of 20% for the said asset provided for in Legislative Decree No. 1488.
In case of special arrangement of depreciation electric vehiclesIt is demanded that the investment period in land transport cars using electric energy be reduced from five to two years made in the years 2023 and 2024.
Thus, “Provided that, as per the taxable year 2023, hybrid (with piston engine and electric motor) or electric (with electric motor) land transport vehicles (except railways), in the years 2023 and 2024 The taxable income affected by the production of the acquired, shall be depreciated by applying an annual percentage of depreciation on its value, subject to a maximum of 50.0%, up to its total depreciation.
It is estimated that the annual financial cost of buildings and other constructions as well as higher maximum depreciation rates for both electric vehicleswill likely amount to S/1,112 million and S/15 million respectively by 2024.
“With the measure, the MMM is expected to re-energize and support private investment in line with the plan to reactivate the national economy and economic policy measures to promote the growth of economic activity in accordance with 2023-2026”, Description Statement of reasons for the proposal of the Executive.