Emerging Markets Rates and Currencies Handbook

Tax Summary – Peru Peru (“back-to-back”) than 3 calendar days • Profit 2017 onwards: 5.0% Deductibility of interests • Interest is deductible if debt generates business income in Peru • Deductibility is limited to 30% of EBITDA from the previous fiscal • year • N/A • N/A Deductibility of (FX) Losses • Deductible if proceeds used for maintaining taxable income in Peru • Not deductible if debt was used to acquire an asset, although FX should be included in taxable cost/depreciation • Fully deductible if maintained for hedging purposes • N/A Other Taxes/Duties • Finance Transactions Tax (ITF) = 0.005% Comments • NA • Strict rules governing the bank loans with related party collateral. • N/A • N/A • N/A Note: Citigroup Inc. and any of its affiliates do not provide accounting, tax, or legal advice. Please seek advice from a relevant licensed advisor. Source: Relevant legislation, publicly available sources Country Tax Deductibility and Considerations Inter-Co Debt Offshore Bank Loans Offshore Local Borrowing Derivatives Equities