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Peru’s Permanent Commission Approves 2028 Extension of VAT and Excise Exemptions

The executive’s urgent bill seeks to avert price increases on basic goods through continued VAT and excise exemptions.

Congreso: Comisión Permanente extiende beneficios tributarios en IGV e ISC hasta el 2028. Composición: Diario Correo.
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Overview

  • The Permanent Commission approved Project of Law 13593 in a second vote with 17 in favor, 2 against and 4 abstentions.
  • The change takes effect on January 1, 2026 and keeps the exemptions in force through December 31, 2028 after they were set to expire at the end of 2025.
  • The extension covers goods listed in Appendix I, including agricultural inputs, textile raw materials, items for vulnerable sectors and diplomatic vehicles.
  • Services listed in Appendix II remain exempt based on social, cultural and economic criteria, including activities linked to construction, housing, saving and investment, and foreign trade.
  • Submitted by the Executive as an urgent initiative, the measure cites backing from key ministries and aims to mitigate the regressive impact of the 18% IGV and support economic reactivation.