Following negotiations conducted in recent years between the United Kingdom’s Revenue and Customs (HMRC) and the Peruvian Ministry of Economy and Finance regarding an agreement for the elimination of double taxation (CDI), the United States and Peru have decided to announce the conclusion of the CDI negotiations.
The two countries hope to sign this treaty in the coming months. Once signed, the CDI will be implemented in both countries once the procedures required by their domestic legislation are completed for it to enter into force.
The DTA is a bilateral treaty that sets out how each country will tax cross-border income, how it will prevent tax evasion and evasion, and how it will provide relief against double taxation. This treaty sets limits on how each country’s domestic legislation can tax cross-border income such as dividends, interest and royalties.
British and Peruvian companies have continually requested this treaty. His signing will play an important role in increasing cross-border trade and investment, providing long-term certainty and stability for businesses on both sides and improving our bilateral relationship.
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