Peru: Law No. 31452: Exemption from Value Added Tax (IGV) on basic family basket of products

Law No. 31452 establishes that: - The sale or import of the following goods that make up the basic family food basket are exempted from the IGV in the country: fresh, refrigerated or frozen poultry meat of the gallus domesticus species; fresh chicken eggs of the gallus domesticus species; sugar; uncooked, unstuffed or otherwise unprepared pasta; and, bread. - It is established that taxpayers that commercialize goods exempted from VAT may apply as VAT tax credit the acquisitions and/or Imports of the goods required in the production process of the exempted goods. - SUNAT (National Superintendence of Customs and Tax Administration) will establish the complementary norms that are necessary for the best application of the provisions of this provision. Complementary rules were established by Supreme Decree No. 083-2022-EF.