Peru Now Issuing Income Tax Documents and Collection Documents Electronically
Last September, SUNAT, Peru’s tax administration issued the Superintendency’s Resolution 274-2015, which regulates the electronic issuance of income tax documents and collection documents. This regulation will make it mandatory for certain taxpayers to issue these documents in electronic format only starting next July.
Those who must adhere to this regulation before the deadline indicated are current income tax agents and collection document agents. Furthermore SUNAT will appoint new taxpayers that have yet to be named.
What are income tax agents and collection document agents?
Income tax agents must retain the general sales tax or value added tax every time a person makes a payment for a taxable activity. Later, this amount, which is 3% of the total transaction, is delivered to SUNAT.
Collection agents serve the same function as income tax agents except that those who retain the tax are those who make the sale rather than those that pay for the sale. Later, the agents deliver the appropriate amount to SUNAT.
The novelty posed by the resolution is that these intermediaries issued their tax documents in electronic format in order to minimize costs and increase security and efficiency. Anyone desiring to issue electronic income tax documents or collection documents has been able to do so since last December.
These documents will coexist in digital and paper format until June 30th because this is necessary in order to do daily summaries. However, the digital format will be mandatory starting on July 1st.
Other aspects of the resolution
The income tax documents and collection documents should be issued on a daily basis, one for each invoice. These documents utilize alphanumeric numbering, which consists of 4 characters, the first being the letter R (for example R001). In addition, they must include a consecutive number of up to 8 digits.
Once issued, the documents can be declared by SUNAT within 7 days. Also, it’s necessary to make them available to recipients for one year so they can be read, downloaded and printed. If an error occurs, it’s possible to reverse the document even though it has already reached the recipient. In a case like this, it’s necessary to inform the recipient about the error and issue a summary of reversals to SUNAT within 7 working days.
How to migrate to electronic invoicing?
EDICOM has already adapted an e-invoicing platform to these new requirements. Through this solution, taxpayers can issue their income tax documents and collection documents automatically and safely. To learn more, contact our team.