Peru: Law No. 31452 - Law on the Exemption of VAT on products of the basic family basket

The law temporarily exempts the sale and import of a group of basic food items (chicken, eggs, sugar, pasta, and bread) from the General Sales Tax (IGV) in order to mitigate the inflationary impact of the international economic situation. The law allows retailers to claim a tax credit for the IGV paid on the purchase of inputs related to these products, extends its application to transactions in the Amazon region, and tasks INDECOPI with monitoring prices for the end consumer.