Law on tax-exempt bonuses made official in Peru

The tax exemption for bonuses that employees receive on Peruvian Independence Day and Christmas has been made official through Law 30334, which establishes measures to revitalize the economy in 2015.

 

Published in El Peruano official daily, the regulation was signed by Congress President Ana Maria Solorzano and will come into force starting tomorrow.

 

The law provides that bonuses must not be subject to contributions or discounts of any kind, except to those discounts mandated by state law or authorized by the employee.

 

This will be applicable to public sector labor regulations, and will affect civil servants under the Civil Service Act.

 

As for the employers’ contribution into the social security scheme with regard to July and December bonuses, "it is paid to workers under the temporary non-remunerative, non-pensionable extraordinary bonus mode."

 

The law provisions will also apply to retiree and pensioners.