Young people will have benefits for the creation of companies in Peru

As an incentive and contribution to the generation of jobs and economic development, Peruvian legislative authorities expect the approval of the so-called "Young Entrepreneur Law".

According to the initiative, those entrepreneurs between 18 and 29 years old will be able to create their own company through a simplified incorporation and registration process, allowing them to have some advantages as long as they do not exceed 300 UITS of capital stock or that they have registered an annual sale of more than 400 UITS one year before.

Companies that are duly registered with Sunarp will be able to access the following benefits:

Early refund of IGV (General Sales Tax) for the case of export operations of goods and services.

Exemption from income tax (IR) for two years, provided that the profits are reinvested in the company. In the case of maintaining a payroll made up of 60% of young people, the benefit may be extended for up to three years.

OMC Abogados & Consultores is at your disposal in case you need further information on the subject or advice for the incorporation of a company, you can write to us at: omago@omcabogados.com.pe or markeing@omcabogados.com.pe