Countries › Peru › Guide › 1. Start here › Peru business and legal glossary: Spanish terms explained in English
Peru business and legal glossary: Spanish terms explained in English
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Last verified: 2026-10-28 · Status: Stable
Peruvian business law runs on a small set of acronyms and Spanish terms: RUC, UIT, RMV, IGV, IPM, ITF, CTS, PLAME and others that appear in every filing, contract and payroll. This glossary explains each one in plain English and ties it to the article of law that defines or uses it, with the 2026 figures where a number is involved. Use it alongside the start here page and the calendar; each term links to the official text it comes from.
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 and shown in the Banco Central de Reserva del Perú statistics series PD04640PD. Amounts set in US dollars by law are quoted as written. Conversions are for orientation only.
Key facts
| Tax unit (UIT), 2026 | 5500 PENDS 301-2025-EF, as of 2026-10-28 · in force |
|---|---|
| Minimum monthly wage from 1 October 2026 | 1230 PENDS 015-2026-TR, as of 2026-10-28 · in force |
| Financial transactions tax (ITF) | 0.005 %TUO Ley 28194 art. 10, as of 2026-10-28 · in force |
| Maximum shareholders in an S.A.C. | 20 personsLey 26887 art. 234, as of 2026-10-28 · in force |
| Maximum partners in an S.R.L. | 20 personsLey 26887 art. 283, as of 2026-10-28 · in force |
The rule
1. RUC (Registro Único de Contribuyentes): SUNAT's taxpayer registry; the permanent number every company uses in filings and with banks and notaries. Its last digit decides monthly due dates.Decreto Legislativo Nº 943, Art. 2 and art. 3, 2003-12-20 official text · verified 2026-10-28
2. UIT (Unidad Impositiva Tributaria): Tax unit used to express thresholds, fines and fees; S/ 5,500 in 2026, reset yearly by supreme decree.Decreto Supremo Nº 301-2025-EF (SUNAT UIT table), Art. 1, 2025-12-17 official text · verified 2026-10-28
3. RMV (Remuneración Mínima Vital): Minimum monthly wage for private sector workers; S/ 1,230 from 1 October 2026.Decreto Supremo Nº 015-2026-TR, Art. 1, 2026-09-28 official text · verified 2026-10-28
4. IGV and IPM: General sales tax (national) and municipal promotion tax charged together on taxable sales and imports; 15.5 plus 2.5 percent in 2026, moving to 14 plus 4 percent by 2029.Ley Nº 32387, Art. 2 and third complementary modifying provision, 2025-06-16 official text · verified 2026-10-28
5. ITF (Impuesto a las Transacciones Financieras): Tax on financial system transactions at 0.005 percent of each taxed operation.TUO de la Ley Nº 28194 (Decreto Supremo Nº 150-2007-EF), Art. 10, 2007-09-23 official text · verified 2026-10-28
6. Medios de pago: Bank deposits, transfers, cards, checks and similar instruments that must be used for payments above S/ 2,000 or US$500, for loans of any amount and for capital transactions of 3 UIT or more.TUO de la Ley Nº 28194, Art. 3 and art. 4, 2022-03-03 official text · verified 2026-10-28
7. TIM (Tasa de Interés Moratorio): Moratory interest on late tax payments, accrued daily at the monthly rate divided by 30; 0.9 percent a month in soles.TUO del Código Tributario, Art. 33, 2006-12-24 official text · verified 2026-10-28
8. Buenos Contribuyentes: Taxpayers in SUNAT's good taxpayer regime, who use the last column of the monthly calendar (a later due date).Resolución de Superintendencia Nº 281-2022/SUNAT, Art. 4, 2022-12-24 official text · verified 2026-10-28
9. MYPE (for annual return deadlines): Individuals and micro and small businesses with prior year net income up to 1,700 UIT, which file the annual income tax return later (May and June) under Ley 31940.Resolución de Superintendencia Nº 000386-2025/SUNAT, Annex, schedule b), 2025-12-29 official text · verified 2026-10-28
10. PLAME: Monthly electronic payroll return (Form 0601) filed through SUNAT, used to declare EsSalud, ONP and wage withholdings.Decreto Supremo Nº 018-2007-TR; Resolución de Superintendencia Nº 000016-2026/SUNAT, DS 018-2007-TR art. 3, 2007-08-28 official text · verified 2026-10-28
11. T-Registro: Electronic labor information register; each worker must be entered within the day they start work.Decreto Supremo Nº 018-2007-TR, Art. 4-A, 2007-08-28 official text · verified 2026-10-28
12. EsSalud: Social health insurance; the employer pays 9 percent of the remuneration of active workers.Ley Nº 26790, Art. 6 a), 1997-05-17 official text · verified 2026-10-28
13. SNP (ONP) and SPP (AFP): The two pension systems: the national system run by the ONP, with contributions of at least 13 percent, and the private system of AFPs, with 10 percent to the individual account plus insurance premium and commission, both paid by the worker.Ley Nº 32123, Art. 8, 2024-09-24 official text · verified 2026-10-28
14. CTS (Compensación por Tiempo de Servicios): Severance savings the employer deposits in a bank account chosen by the worker in the first 15 days of May and November.TUO DL 650 (Decreto Supremo Nº 001-97-TR), Art. 21 and art. 22, 1997-03-01 official text · verified 2026-10-28
15. Gratificaciones: Two statutory bonuses, for Fiestas Patrias and Christmas, each up to one month's pay, paid in the first half of July and December.Ley Nº 27735; Decreto Supremo Nº 005-2002-TR, Ley 27735 art. 5; DS 005-2002-TR art. 3 and art. 4, 2002-05-28 official text · verified 2026-10-28
16. Asignación familiar: Family allowance of 10 percent of the minimum wage for workers with children under 18 (or in higher education), unless pay is set by collective bargaining.Ley Nº 25129, Art. 1 and art. 2, 1989-12-06 official text · verified 2026-10-28
17. Participación en las utilidades: Workers' statutory share in the company's profits, paid within 30 days after the annual return deadline.Decreto Legislativo Nº 892, Art. 6, 1996-11-11 official text · verified 2026-10-28
18. Escritura pública and Registro: Public deed signed before a notary that contains the articles and bylaws; the company exists as a legal person only once the deed is registered with SUNARP.Ley Nº 26887, Art. 5 and art. 6, 1997-12-09 official text · verified 2026-10-28
19. Reserva de preferencia registral: Thirty day protection of a company name requested before incorporation.Ley Nº 26887, Art. 10, 1997-12-09 official text · verified 2026-10-28
20. S.A.C. (Sociedad Anónima Cerrada): Closely held corporation with no more than 20 shareholders and no shares registered in the securities market registry.Ley Nº 26887, Art. 234, 1997-12-09 official text · verified 2026-10-28
21. S.R.L. (Sociedad Comercial de Responsabilidad Limitada): Limited liability company with equal participations that cannot be securities or called shares, up to 20 partners, who are not personally liable for company debts.Ley Nº 26887, Art. 283, 1997-12-09 official text · verified 2026-10-28
22. Sucursal: Branch of a foreign company, established by registered public deed with assigned capital and a permanent legal representative; it has no separate legal personality.Ley Nº 26887, Art. 403, 1997-12-09 official text · verified 2026-10-28
23. Junta obligatoria anual: Mandatory annual shareholders' meeting within three months after year end to approve accounts and decide on profits.Ley Nº 26887, Art. 114, 1997-12-09 official text · verified 2026-10-28
24. Reserva legal: At least 10 percent of distributable profit after tax set aside each year until it equals one fifth of capital.Ley Nº 26887, Art. 229, 1997-12-09 official text · verified 2026-10-28
25. Beneficiario final: Beneficial owner reported to SUNAT in an informative return; companies with RUC from 2025 to November 2026 file with the November 2026 period.Resolución de Superintendencia Nº 000168-2025/SUNAT under Decreto Legislativo Nº 1372, Art. 3, 2025-05-26 official text · verified 2026-10-28
26. TUO (Texto Único Ordenado): Consolidated text of a law approved by supreme decree that gathers later amendments and may renumber articles without changing their substance, as with the securities law TUO.Decreto Supremo Nº 020-2023-EF (TUO de la Ley del Mercado de Valores), Recitals and art. 1, 2023-02-10 official text · verified 2026-10-28
| Term | Meaning | Legal basis |
|---|---|---|
| RUC (Registro Único de Contribuyentes) | SUNAT's taxpayer registry; the permanent number every company uses in filings and with banks and notaries. Its last digit decides monthly due dates. | Decreto Legislativo Nº 943, Art. 2 and art. 3 |
| UIT (Unidad Impositiva Tributaria) | Tax unit used to express thresholds, fines and fees; S/ 5,500 in 2026, reset yearly by supreme decree. | Decreto Supremo Nº 301-2025-EF (SUNAT UIT table), Art. 1 |
| RMV (Remuneración Mínima Vital) | Minimum monthly wage for private sector workers; S/ 1,230 from 1 October 2026. | Decreto Supremo Nº 015-2026-TR, Art. 1 |
| IGV and IPM | General sales tax (national) and municipal promotion tax charged together on taxable sales and imports; 15.5 plus 2.5 percent in 2026, moving to 14 plus 4 percent by 2029. | Ley Nº 32387, Art. 2 and third complementary modifying provision |
| ITF (Impuesto a las Transacciones Financieras) | Tax on financial system transactions at 0.005 percent of each taxed operation. | TUO de la Ley Nº 28194 (Decreto Supremo Nº 150-2007-EF), Art. 10 |
| Medios de pago | Bank deposits, transfers, cards, checks and similar instruments that must be used for payments above S/ 2,000 or US$500, for loans of any amount and for capital transactions of 3 UIT or more. | TUO de la Ley Nº 28194, Art. 3 and art. 4 |
| TIM (Tasa de Interés Moratorio) | Moratory interest on late tax payments, accrued daily at the monthly rate divided by 30; 0.9 percent a month in soles. | TUO del Código Tributario, Art. 33 |
| Buenos Contribuyentes | Taxpayers in SUNAT's good taxpayer regime, who use the last column of the monthly calendar (a later due date). | Resolución de Superintendencia Nº 281-2022/SUNAT, Art. 4 |
| MYPE (for annual return deadlines) | Individuals and micro and small businesses with prior year net income up to 1,700 UIT, which file the annual income tax return later (May and June) under Ley 31940. | Resolución de Superintendencia Nº 000386-2025/SUNAT, Annex, schedule b) |
| PLAME | Monthly electronic payroll return (Form 0601) filed through SUNAT, used to declare EsSalud, ONP and wage withholdings. | Decreto Supremo Nº 018-2007-TR; Resolución de Superintendencia Nº 000016-2026/SUNAT, DS 018-2007-TR art. 3 |
| T-Registro | Electronic labor information register; each worker must be entered within the day they start work. | Decreto Supremo Nº 018-2007-TR, Art. 4-A |
| EsSalud | Social health insurance; the employer pays 9 percent of the remuneration of active workers. | Ley Nº 26790, Art. 6 a) |
| SNP (ONP) and SPP (AFP) | The two pension systems: the national system run by the ONP, with contributions of at least 13 percent, and the private system of AFPs, with 10 percent to the individual account plus insurance premium and commission, both paid by the worker. | Ley Nº 32123, Art. 8 |
| CTS (Compensación por Tiempo de Servicios) | Severance savings the employer deposits in a bank account chosen by the worker in the first 15 days of May and November. | TUO DL 650 (Decreto Supremo Nº 001-97-TR), Art. 21 and art. 22 |
| Gratificaciones | Two statutory bonuses, for Fiestas Patrias and Christmas, each up to one month's pay, paid in the first half of July and December. | Ley Nº 27735; Decreto Supremo Nº 005-2002-TR, Ley 27735 art. 5; DS 005-2002-TR art. 3 and art. 4 |
| Asignación familiar | Family allowance of 10 percent of the minimum wage for workers with children under 18 (or in higher education), unless pay is set by collective bargaining. | Ley Nº 25129, Art. 1 and art. 2 |
| Participación en las utilidades | Workers' statutory share in the company's profits, paid within 30 days after the annual return deadline. | Decreto Legislativo Nº 892, Art. 6 |
| Escritura pública and Registro | Public deed signed before a notary that contains the articles and bylaws; the company exists as a legal person only once the deed is registered with SUNARP. | Ley Nº 26887, Art. 5 and art. 6 |
| Reserva de preferencia registral | Thirty day protection of a company name requested before incorporation. | Ley Nº 26887, Art. 10 |
| S.A.C. (Sociedad Anónima Cerrada) | Closely held corporation with no more than 20 shareholders and no shares registered in the securities market registry. | Ley Nº 26887, Art. 234 |
| S.R.L. (Sociedad Comercial de Responsabilidad Limitada) | Limited liability company with equal participations that cannot be securities or called shares, up to 20 partners, who are not personally liable for company debts. | Ley Nº 26887, Art. 283 |
| Sucursal | Branch of a foreign company, established by registered public deed with assigned capital and a permanent legal representative; it has no separate legal personality. | Ley Nº 26887, Art. 403 |
| Junta obligatoria anual | Mandatory annual shareholders' meeting within three months after year end to approve accounts and decide on profits. | Ley Nº 26887, Art. 114 |
| Reserva legal | At least 10 percent of distributable profit after tax set aside each year until it equals one fifth of capital. | Ley Nº 26887, Art. 229 |
| Beneficiario final | Beneficial owner reported to SUNAT in an informative return; companies with RUC from 2025 to November 2026 file with the November 2026 period. | Resolución de Superintendencia Nº 000168-2025/SUNAT under Decreto Legislativo Nº 1372, Art. 3 |
| TUO (Texto Único Ordenado) | Consolidated text of a law approved by supreme decree that gathers later amendments and may renumber articles without changing their substance, as with the securities law TUO. | Decreto Supremo Nº 020-2023-EF (TUO de la Ley del Mercado de Valores), Recitals and art. 1 |
Glossary at a glance; legal basis in the rules above.
Worked example
- An invoice line reading 'Op. gravada S/ 10,000; IGV S/ 1,550; IPM S/ 250; Total S/ 11,800' is a standard 2026 Peruvian invoice under Ley 32387.
- A fine of '50% de la UIT' in 2026 means S/ 2,750, about US$797.
Step by step
- Search the glossary for a term found in a contract or SUNAT notice, then open the linked official text before acting on it.
Common traps
- IGV no longer means 18 percent: since 2026 it is the national component (15.5 percent in 2026) and the IPM is shown separately (Ley 32387).
- TUO articles can be renumbered against the original law, so always check which text an article number refers to (DS 020-2023-EF recitals).
- S.A.C. and S.R.L. both cap members at 20, but S.R.L. participations are not shares and cannot be securities (Ley 26887 art. 234 and art. 283).
Sources
- Decreto Legislativo Nº 943, Ley del RUC, SUNAT
- SUNAT UIT table
- Decreto Supremo Nº 015-2026-TR
- Ley Nº 32387, Congreso
- TUO Ley 28194, SUNAT
- TUO del Código Tributario, SUNAT
- Resolución de Superintendencia Nº 281-2022/SUNAT
- SUNAT annual income tax schedule FY2025
- Resolución de Superintendencia Nº 000016-2026/SUNAT
- MTPE Compendio de normas laborales
- Ley Nº 26790, Congreso archive
- Ley Nº 32123, Congreso
- Ley Nº 26887, gob.pe
- Resolución de Superintendencia Nº 000168-2025/SUNAT
- TUO de la Ley del Mercado de Valores, SMV
Related pages
- start/start-here
- start/tax-and-compliance-calendar
- start/uit-minimum-wage-and-exchange-rate
- start/who-regulates-what
- entities/choosing-an-entity
- /country/peru/
- https://theargentinethread.com/guide/
Related: Peru country profile · live dashboard · central bank and release calendar · our posts on X
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