SUNAT strengthens control over payments with cards and combats tax evasion

Today, the National Superintendence of Customs and Tax Administration (SUNAT) has set its sights on the use of credit cards in the country, with the aim of strengthening control over tax payments by stores that accept this electronic payment method. It is expected that there will be stricter monitoring, especially targeting large taxpayers, artists, and athletes, sectors where some tax evasion has been detected. According to estimates, it is projected that smuggling will reach the amount of US$500 million during the current year. Faced with this concerning situation, the Tax Administration seeks to obtain detailed information on the amounts involved in transactions made with credit and debit cards, with the goal of combating tax evasion that may be occurring through this payment method. On the economic front, it has been observed that exports and private investment maintain a modest performance. The Central Reserve Bank (BCR) reported a 6% increase in cement consumption in February, although this growth is below market expectations. The National Institute of Statistics and Informatics (INEI) has indicated that the Peruvian economy grew by 4.2% with the change in the base year, a figure lower than the previous projections of 4.8%. Analysts anticipate that economic recovery could begin to be noticeable starting from the second quarter of the year. Regarding tax collection, it is noteworthy that in February, revenue from the General Sales Tax (IGV) increased by 12.3%, while electricity production grew by 7.1%, both exceeding the levels recorded in January. Lastly, recalling an event that took place five years ago on the same date, the cabinet led by René Cornejo managed to obtain a vote of confidence in Congress thanks to the change of vote by 16 congressmen, with 66 votes in favor, 52 against, and nine abstentions. This event generated various reactions in the political and business class of the country, with calls to counteract economic deceleration and to maintain open dialogue to achieve consensus for the benefit of the nation.