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Selling shares of a Peruvian company: tax, withholding and payment rules for foreign sellers

Argentina. For full detail on Argentina, go to The Argentine Thread.

Last verified: 2026-10-28 · Status: Stable

A foreign company that sells shares of a Peruvian company earns Peruvian source income, whatever the nationality of the buyer or where the contract is signed. The gain (price minus documented cost) pays 30 percent off exchange, or 5 percent when registered shares are sold on a Peruvian centralised trading mechanism; a Peruvian buyer withholds, otherwise the seller pays SUNAT directly. The Peruvian company is jointly liable if it was related to the seller in the prior 12 months, and the price must move through Peruvian bank payment means or the seller loses its cost deduction.

USD figures use S/ 3.452 per US dollar, the banking system selling rate published by the Superintendencia de Banca, Seguros y AFP for 27 October 2026, from the Banco Central de Reserva del Perú statistics series PD04640PD. UIT amounts use the 2026 UIT of S/ 5,500 set by Decreto Supremo Nº 301-2025-EF, as listed in the SUNAT UIT table. Conversions are for orientation only.

Key facts

Non resident company, gain on Peruvian shares sold off exchange	30 %LIR art. 56 j), as of 2026-10-28 · in force
Non resident company, gain on registered shares sold on a Peruvian exchange	5 %LIR art. 56 h), as of 2026-10-28 · in force
Non resident individual, gain on securities sold outside Peru	30 %LIR art. 54 d), as of 2026-10-28 · in force
Deadline for a non resident seller paying directly	12 business days of the month after the income is received textReglamento LIR art. 39-A via SUNAT Informe 068-2012, as of 2026-10-28 · in force
Peruvian issuer jointly liable for seller tax	Yes, if related in any of the prior 12 months, unless withholding applied textLIR art. 68, as of 2026-10-28 · in force
Payments that must use Peruvian bank payment means	S/ 2,000 or US$500 textTUO Ley 28194 art. 4, as of 2026-10-28 · in force
IGV on a share sale	Not subject textTUO IGV art. 3 b), as of 2026-10-28 · in force

The rule

1. Income from selling shares or participations of companies constituted or established in Peru is Peruvian source income, whatever the nationality or domicile of the parties and wherever the contract is signed or performed. A foreign seller is therefore taxed in Peru even when buyer and seller are both abroad.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); SUNAT Informe Nº 068-2012-SUNAT/4B0000, LIR art. 9 h) as quoted in Informe 068-2012, analysis point 1, 2004-12-08 official text · verified 2026-10-28

2. Non resident companies pay 5 percent on income from selling securities within Peru and 30 percent on other income, which includes a private sale off exchange. A sale counts as made within Peru only when the shares are registered in the Registro Público del Mercado de Valores and traded through a Peruvian centralised trading mechanism.
Example: Gain of S/ 6,000,000 on a private sale: tax S/ 1,800,000. Same gain on the Lima exchange with registered shares: tax S/ 300,000. / Gain of US$1,738,123: tax US$521,437 off exchange or US$86,906 on exchange.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); art. 56 h) substituted by Decreto Legislativo Nº 972 (10 March 2007) and Ley Nº 29168; Reglamento art. 30-B num. 3 as cited by SUNAT, Art. 56 h) and j); Informe 068-2012 footnote 1, 2007-12-20 official text · verified 2026-10-28

3. Non resident individuals pay 30 percent on capital gains from selling securities outside Peru.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF), Art. 54 d), 2004-12-08 official text · verified 2026-10-28

4. The taxable base is the price minus the computable cost. For shares acquired for consideration the computable cost is the acquisition cost, which includes the price paid plus commissions, notary fees and taxes paid on the purchase, but never interest. The regulation treats this cost as the recovery of invested capital that a non resident may deduct.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); Reglamento art. 57 a) as cited by SUNAT, LIR art. 20, art. 21.2 a) and art. 76 g); Informe 068-2012 point 2, 2004-12-08 official text · verified 2026-10-28

5. Anyone who pays Peruvian source income to a non resident must withhold the tax and pay it to SUNAT, as a final tax, within the monthly filing deadlines of the Tax Code. When the buyer is not a Peruvian payer (for example another foreign company), the selling company pays the tax directly within the first 12 business days of the month after it receives the income.
Cost to do it: Tax only; no filing fee. The seller needs a Peruvian tax identification to pay directly.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); Reglamento art. 39-A last paragraph as cited by SUNAT, LIR art. 76 first paragraph; Informe 068-2012 footnote 2, 2004-12-08 official text · verified 2026-10-28

6. When the payer is a Peruvian securities clearing and settlement institution, it withholds when it settles the cash, and the non resident must register its computable cost and the purchase related costs with that institution, supported by documents from the entities that took part in the purchase and the sale.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); art. 76 b) amended by Ley Nº 30050 (26 June 2013, in force 1 January 2014), Art. 76 first paragraph b), 2013-06-26 official text · verified 2026-10-28

7. The Peruvian company that issued the shares is jointly liable for the seller's tax when, in any of the 12 months before the sale, the non resident seller was related to it directly or indirectly through control, management or capital. There is no joint liability when the withholding applied.Texto Único Ordenado de la Ley del Impuesto a la Renta (Decreto Supremo Nº 179-2004-EF); art. 68 as amended by Decreto Legislativo Nº 1424 (13 September 2018, in force 1 January 2019), Art. 68, 2018-09-13 official text · verified 2026-10-28

8. Payments above S/ 2,000 or US$500 must be made through Peruvian financial system payment means (deposits, transfers, payment orders, local cards or non negotiable cheques). Paying outside those means denies the cost or expense for tax purposes. SUNAT has confirmed that this applies to non residents selling Peruvian shares to each other, so a foreign seller paid offshore can lose its cost deduction and be taxed on the gross price.Texto Único Ordenado de la Ley Nº 28194 (Decreto Supremo Nº 150-2007-EF); art. 4 amended by Decreto Legislativo Nº 1529 (3 March 2022, in force 1 April 2022); SUNAT Informe Nº 068-2012-SUNAT/4B0000, Art. 3, 4, 5 and 8; Informe 068-2012 point 3 and conclusion, 2022-03-03 official text · verified 2026-10-28 · changed: Threshold cut from S/ 3,500 or US$1,000 to S/ 2,000 or US$500 by DL 1529, in force 1 April 2022.

9. A share sale is outside the IGV (VAT): the IGV definition of movable goods covers tangible goods, rights over them, distinctive signs, inventions, copyright and goodwill, and does not list shares or participations.Texto Único Ordenado de la Ley del IGV e ISC (Decreto Supremo Nº 055-99-EF), Art. 3 b), 1999-04-15 official text · verified 2026-10-28

10. After paying the tax, a foreign investor with registered investment may send the full sale proceeds abroad in freely convertible currency without prior authorisation.Decreto Legislativo Nº 662, published 2 September 1991, Art. 7 a), 1991-09-02 official text · verified 2026-10-28

Buyer	Venue	Rate on gain	Who pays and when
Peruvian company or individual	Private sale	30%	Buyer withholds and pays with its monthly filings
Foreign buyer	Private sale	30%	Seller pays SUNAT within 12 business days of the month after receipt
Any buyer	Peruvian exchange, registered shares	5%	Clearing and settlement institution withholds on cash settlement
Any of the above	Any	As above	Peruvian issuer jointly liable if related to the seller in the prior 12 months and no withholding applied

Who pays the tax on a non resident company selling Peruvian shares (LIR art. 56, 68 and 76)

Worked example

Worked example: a foreign parent sells 100 percent of a Peruvian S.A.C. to a Lima buyer for S/ 10,000,000 (US$2,896,871). Documented acquisition cost S/ 4,000,000 (US$1,158,749). Gain S/ 6,000,000 (US$1,738,123). The buyer withholds 30 percent, S/ 1,800,000 (US$521,437), pays it to SUNAT with its monthly filing and wires S/ 8,200,000 (US$2,375,435) to the seller.
Same deal with a foreign buyer: no Peruvian withholding agent, so the seller pays S/ 1,800,000 (US$521,437) itself within the first 12 business days of the following month. If the seller was related to the Peruvian company in the prior year and does not pay, SUNAT can collect from the Peruvian company.
Bank means trap: if the price is paid offshore outside Peruvian payment means, the seller cannot deduct the S/ 4,000,000 (US$1,158,749) cost, so 30 percent applies to the full S/ 10,000,000 (US$2,896,871), a tax of S/ 3,000,000 (US$869,061) instead of S/ 1,800,000 (US$521,437).

Step by step

Assemble the cost file before signing: purchase agreements, bank evidence of the original price paid, capital contribution records and notary and commission invoices (LIR art. 20 and 21).
Decide the payment route: a Peruvian buyer withholds; with a foreign buyer, obtain a Peruvian tax identification for the seller so it can pay directly.
Route the price through a Peruvian bank account or transfer recognised as a payment means (TUO Ley 28194 art. 5).
Pay or have the buyer withhold the 30 percent (or 5 percent on exchange) tax by the monthly deadline; keep the receipt for the remittance and for any foreign tax credit.
Update the share register and the shareholder data in the RUC within the first 10 business days of the following month (RS 210-2004/SUNAT art. 23).
Remit the net proceeds abroad under DL 662 art. 7; no approval is needed.

Common traps

Selling between two foreign companies does not move the sale outside Peru: the income is still Peruvian source and the seller must pay itself.
Paying offshore outside Peruvian bank payment means can wipe out the cost deduction (TUO Ley 28194 art. 8, Informe 068-2012).
The 5 percent rate needs both registration in the public securities register and trading on a Peruvian centralised mechanism; a private deal between listed company shareholders pays 30 percent.
The Peruvian target is jointly liable when related to the seller, so buyers usually insist on withholding or a tax indemnity.
Peru has no double tax treaty with Argentina, so an Argentine seller pays the domestic Peruvian rates on this page; treaty relief on the Argentine side is covered in The Argentine Thread guide.

Sources

← Exiting Peru: selling the company, liquidating it and taking capital and profits outOffshore indirect transfers: when selling a foreign holding company is taxed in Peru →

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