PERU: New Decree on Factoring with Electronic Invoices

Ramón Frias
November 1, 2021

The Peruvian government has issued a new Decree (Decreto de Urgencia 239-2021) establishing a procedure that taxpayers and their clients should follow in order to trade electronic invoices issued by businesses and independent suppliers of services. The purpose of this decree is to foster the financing mechanisms of taxpayers by allowing them to negotiate invoices pending payment as if they were debt titles. In order to do that, they have established specific channels for the suppliers to submit the qualifying invoices and receipts to their client and the deadlines for these ones to acknowledge or reject the corresponding invoice.

With that in mind, the government is creating a platform called “Plataforma de Pago Oportuno” that will be used to register or question the invoices submitted by sellers to their clients before those invoices are traded by the entities dedicated to trade of debt titles (Instituciones de Compensación y Liquidación de Valores). The specific regulation establishing the function of this platform will be available in 90 days according to the regulations.

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Ramón Frias

Ramon is a Tax Counsel on the Regulatory Analysis team at Sovos. He is licensed to practice law in the Dominican Republic and is a member of the Dominican Bar Association. He has a Certificate Degree from Harvard University as well as a J.D. from the Universidad Autonoma de Santo Domingo. Ramon has written a number of essays about tax administration and has won the first prize in the international essays contest sponsored by the Inter American Center of Tax Administrations (CIAT). Prior to joining Sovos, Ramon worked for more than 10 years in the Department of Revenue of the Dominican Republic where he served as Deputy Director. He is proficient in French and Spanish.
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