Peru: Regulations for the Application of Tax Benefits for Crop and/or Livestock Activities (Supreme Decree No. 055-97-EF)

This Decree sets out regulatory provisions for accessing the tax benefits established in Title II of the Agricultural Sector Promotion Law (Legislative Decree No. 885). To qualify, individuals or legal entities must submit a sworn statement to SUNAT declaring that their main activity is crop cultivation and/or livestock farming, excluding poultry farming, agroindustry, and forestry industry. An entity is considered primarily engaged in crop/livestock activities when income from other services, including those excluded sectors, does not exceed 20% of its total annual net income.