Key Considerations for Peru’s Expanding E-Invoicing Mandates

Steve Sprague
April 13, 2015

This blog was last updated on June 27, 2021

As e-invoicing mandates continue to spread throughout Latin America, it’s becoming increasingly important for companies to have a regional compliance partner that proactively monitors and responds to the ever-changing compliance landscape. As we explored previously, three countries are beginning to enforce compliance measures this year: Peru, Uruguay and Ecuador. While the legislation in each country affects businesses similarly and was introduced for a common purpose – ensuring the accuracy of value-added tax deductions and auditing and fining companies for errors – the specifics of each legislation can vary greatly.

In part two of our four-part series, we’ll examine the mandates in Peru. Peru began testing e-invoicing mandates in 2014 with a group of 239 companies. This quarter, the This quarter Peru's Tax Authority (SUNAT) starts rolling out  mandates to 200 more large multinational and 5,000 medium sized companiesrollout expands to 200 large multinationals and 5,000 medium companies. Later in the year, an additional 750 companies will be added to that group. Essentially, if your income was 150 UIT or greater last year, you will be required to record sales and purchases electronically.

Key requirements in Peru include:

  • Accounts receivable: Invoices must be submitted to and approved by the SUNAT (Peru’s tax authority) prior to sending to the customer.
  • Shipping: When transporting goods, a government approved invoice and bill of lading (Guia De Remision) must accompany the shipment.
  • Certification: Your compliance program, including invoice submission, payables, reporting and contingency planning must be tested and certified. You have 25 days to complete this process from the date you file an application with the government.
  • Contingency: If systems are down, you must send the SUNAT a daily summary of records.
  • Storage: Records must be stored for four years and must be available to clients via the government’s web service for one year.
  • Cancellations: You only have 72 hours after receiving an invoice to dispute or cancel it; otherwise, the SUNAT considers it verified and approved.

As you evaluate solutions for Peru compliance, here are five key questions to ask:

  1. Does your solution integrate with your existing ERP framework, eliminating the risk of data manipulation in external systems?
  2. Does your solution support change management for frequent updates to the Peruvian requirements?
  3. Do you have one end-to-end platform for all components of the Peru mandates, including e-invoicing, receivables, payables, transit and reporting? Or, are you maintaining multiple systems?
  4. Will you be able to get support when you need it?
  5. Do you know what to expect in terms of budget? Or, will each regulation change require a substantial additional expenditure?

As these mandates continue to change, it’s important to select a proactive partner that will help you navigate these murky waters seamlessly. You can learn more by listening to our recent webinar: Peru 2015 Mandates: How to Leverage SAP to Maintain Compliance.

Sign up for Email Updates

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

Author

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 Unclaimed Property
February 10, 2025
Delaware Announces 2025 VDA Invitation Dates

This blog was last updated on February 10, 2025 Mark your calendars – April 11, 2025 and August 15, 2025 are this year’s anticipated release dates for the Delaware’s Secretary of State (SOS) VDA program invitations. In the event that an organization receives an invitation to participate in the Voluntary Disclosure Agreement (VDA) program  , […]

North America Sales & Use Tax
February 6, 2025
The Tariff and Sales Tax Mishmash – Untying the Mess

This blog was last updated on February 12, 2025 Talk of tariffs dominates the current news cycle with some commentators suggesting that tariffs will spell disaster for our economy while others say the exact opposite. We’ve seen the stock market sometimes fluctuate as tariffs are announced but later suspended, leaving us to wonder whether an […]

retailer dtc wine shipping
North America ShipCompliant
February 6, 2025
Retailer DtC Wine Shipping: The Time Has Come

This blog was last updated on February 6, 2025 By Tom Wark, Executive Director, National Association of Wine Retailers We are often reminded by the media and those in the wine industry—as well as by wine enthusiasts—that the three-tier system of alcohol distribution in most states hinders consumer access to the expansive number of wines […]

Montana 1099-DA
North America Tax Information Reporting
February 5, 2025
State Filing Alert: Montana’s New 1099-DA Requirements for Crypto Brokers

This blog was last updated on February 5, 2025 Reporting digital asset transactions on Form 1099-DA just got a little more complicated. For 2025 transactions, crypto brokers that file Form 1099-DA with the IRS will be required to file the 1099-DA with the State of Montana. This makes Montana the first state to introduce a […]

North America ShipCompliant
January 23, 2025
DtC Wine Shipping in 2024: A Year-in-Review

This blog was last updated on January 28, 2025 The direct-to-consumer (DtC) wine shipping channel faced a storm of challenges in 2024, navigating some of the toughest market conditions in over a decade. As inflation tightened wallets and consumer behaviors shifted, the industry recorded its steepest declines in shipment volume and value since the inception […]