MEF Expects Peru to Sign Double Taxation Agreement with China | economy

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its owner Ministry of Economy and Finance (MEF)Jose Arista announced that by the end of the year, Peru and China are expected to reach an agreement to avoid double taxation.

He said the previous dialogue had already taken place and the pending session would be held in Peru in November this year (on the occasion of the APEC meeting).

At the end of last May, Arista, in a move Peruvian Chinese Chamber of Commerce, He said the second round of negotiations for an agreement to avoid double taxation and prevent tax evasion and avoidance would be held in November.

“I hope (the deal) will be completed and signed by the end of 2024.”President Pollarde told a press conference at Government House to announce the results of his official visit to China.

He explained that the agreement would provide greater predictability in the tax sector for China and Peru regarding Peruvians in China or Chinese investing in Peru.

Mercado. Arista said China is a major target market for Peruvian exports. 38% of total exports go to that country. Mainly copper, as well as iron.

In that sense, he said he would like to see more Peruvian exports to China, especially non-primary products (mainly fruits).

In 2023, exports from the traditional sector to China totaled $22,194 million, of which the mining sector contributed $21,163 million.

He said Lumina Copper (Chinese capital) is there Gallon (Cajamarca), is interested in resuming exploration and exploitation of this project, with an investment of $3.5 billion.

He said that maybe the Mexican group (Tia Maria) wants to evaluate the project Michigan, Also located in Cajamarca, it will require an investment of $2.5 billion.

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