Top Challenges When Doing Business in Peru

Steve Sprague
October 21, 2015

Peru is one of the most recent countries in Latin America to announce government-mandated compliance initiatives, with e-invoicing requirements going into effect for the majority of companies doing business here in mid-2016. However, large multinationals can’t wait to implement the mandatory processes – libros reports are due in January, requiring companies to submit 10+ e-accounting reports for sales, purchases and inventories.

As you begin to prepare for these upcoming mandates, we’ve crafted the top challenges companies must consider:

Standard Report Requirements
Specific business codes must be used in the standardized e-invoices and reports, yet mapping these XML codes to your business processes and ERP is difficult, often creating extraction issues on both the invoicing and accounting ends. Not to mention, these specifications are known to change frequently, requiring regular SAP updates.

Real-time Communication 
Electronic documents must be submitted to the SUNAT (Peru’s tax authority) in real time – requiring seamless transmission between your ERP and government servers.

Contingency Processes 
When government systems go down, companies must have a plan to resend documents when systems are back up. Like Chile, Peru’s paper model contingency plan is ONLY for situations in which the government system is down; it is not applicable when the problem is on your end, so you must have a robust compliance partner that can minimize the risk of outages.

Past XML invoices must be stored for four years, and companies must make documents available to customers via a web portal for at least a year. Unlike Mexico and Chile, where companies can email past invoices, businesses operating in Peru must make past XML invoices available for download via a web page. The Peruvian government is not providing this service, so it is up to the individual company to provide the portal.

Businesses only have 72 hours after sending an e-invoice to submit a cancellation request. Once the 72-hour lock is in place, companies can only make adjustments via a credit note – requiring a change to most company’s processes for cancellations. Companies should look for a solution that offers a built-in cross-check solution on the 72-hour time stamp to prevent illegal cancellations.   

Inbound Receiving 
Once an invoice is received, companies technically have nine days to either accept or reject it – otherwise it is assumed to be approved by the SUNAT. Tax calculations must be made off of this approved invoice – not from any adjustments made via supplier-to-buyer transactions.

Additionally, buyers should create a process for collecting and archiving supplier XML – not just paper versions – as the XML is the only official version in case of an audit.

Goods cannot ship without official documentation in the form of a Guia de Remision or Guia de Transportista (if using a third-party transit provider).

With these complexities in mind, companies need a compliance partner that can integrate with their existing ERP to fill compliance gaps and minimize audit risks. To learn more about how Sovos can support your operations in Peru, contact us or listen to the webinar replay, How to Prepare for Peru’s Impending Libros Requirements and Electronic Invoicing Mandates

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.


Steve Sprague

Como director comercial, Steve Sprague dirige la estrategia corporativa, las iniciativas de penetración de mercado y de field enablement para el negocio del impuesto sobre el valor añadido global (GVAT) de la empresa. El estilo de liderazgo de Steve se basa en su convicción de que, para que las organizaciones tengan éxito, deben comprometerse e invertir en los tres pilares estratégicos de la empresa: las personas, las prácticas y los productos.
Share This Post

North America Sales & Use Tax
June 1, 2023
3 Things to Remember if You Get a Sales Tax Notice

Have you ever received a sales tax notice from a state department of revenue? Whether you answered yes or no, there are important things to keep top of mind to help keep your business prepared. Finding out that you have failed to comply with one or more of your sales tax obligations can be startling. […]

North America Unclaimed Property
May 30, 2023
How to Set Up a Successful Unclaimed Property Program

Unclaimed property compliance can be difficult and overwhelming. Clients often ask what they should be doing to ensure they are compliant with the various laws and regulations. It isn’t easy, especially if you have multiple property types such as checks, credits or customer accounts that have the potential to become unclaimed property in multiple states. […]

North America ShipCompliant
May 30, 2023
How Hold At Locations Improve Your Customers’ Wine Delivery Experience

Direct-to-consumer shipping wine lovers enjoy the convenience of having their favorite vinos shipped to their front door. But what happens when, for whatever reason, they aren’t available to accept their wine deliveries? Whether they aren’t available during the day or they don’t have someone 21 or older available to sign for their package, these challenges […]

North America Sales & Use Tax
May 30, 2023
Identifying Sales Tax Liabilities and Why They Matter

By Steve Claflin, CLA It’s incredible that it has now been five years since the landmark Wayfair decision. It seems like just yesterday we were reading the case, alerting clients and tracking the ever-developing state guidance. Unfortunately, many companies still are not familiar with their sales tax filing obligations caused by economic nexus, or they […]

North America ShipCompliant
May 25, 2023
Out-of-State Breweries Gain Self Distribution, DtC Rights in Oregon

Under a settlement agreement, breweries located outside of Oregon now have more options for selling into the Beaver State, including direct-to-consumer (DtC) shipping and self-distribution to retailers. The settlement arose out of a lawsuit filed by a group of Washington breweries last year challenging Oregon laws that limited beer self-distribution to in-state breweries and DtC […]