The New Banking Law comes into force

According to Law 30730, as from February 21 any natural person or company, are obliged to use the banking means when making an acquisition whose value is equal to or greater than S / 12,450 (3 UIT). This provision also includes the partial payments that are made and their amount equals to or exceeds S / 3,500 or US $ 1,000.

The operations that are subject to this Law are the following:

Constitution or transfer of property rights over real estate.

Transfer of ownership or creation of property rights over vehicles, new or used, whether air, sea or land.

Acquisition, increase and reduction of shares in the shareholder´s equity of a company.

In case of not proceeding in the aforementioned manner, the taxpayer will be affected because he will not have the right to deduct expenses, cost or tax credit, to make compensations, or to request a refund of taxes, balances in favor, tax refunds, early recovery or restitution of customs duties, nor will he be able to uphold the reasons for an injustified increase of its patrimonial assets.

Deposits in bank accounts, money orders, transfers of funds, payment orders, debit cards issued in the country and any credit card issued in Peru or abroad are considered banking means.

In case you need assistance or more information on this subject you can write to the following emails: omago@omcabogados.com and marketing@omcabogados.com.pe