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LatinNews Regional Monitor: Andean Group - 7 May 2019

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In brief: Peru

* The Peruvian government has published a supreme decree which establishes “form and substance parameters for the application of the anti-tax evasion law”. Prime Minister Salvador del Solar expects that the decree could raise between PEN2.4bn-PEN6bn (US$724m-US$1.8bn) in additional taxes per year. Del Solar also notes that improved tax collection in 2018 permitted the government to make adjustments to the national pension system (SNP) which benefitted over half a million retirees. In a statement made in April, President Martín Vizcarra affirmed that his support for private investment was conditional on those investors paying all their taxes, seeing as “hundreds of millions of Peruvian soles [are] lost every year to tax evasion”.