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Peru: Status of country-by-country report exchanges under “MCAA CbC”

Peru: Status of CbC report exchanges under “MCAA CbC”

Peru signed the “Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports” (MCAA CbC) in late 2018.


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At present, however, it is not clear whether the country-by-country (CbC) reporting exchange relationships from the MCAA CbC agreement have been fully activated.

According to the information available on the OECD website (which is the source referenced by the Peruvian tax authorities), as of 31 January 2019, Peru has made a commitment to send CbC reports to 44 countries (read a table [PDF 63 KB] prepared by KPMG based on the OECD information). However, Peru has received a commitment from only one country—Portugal—that it will transmit its CbC reports to Peru. 

It is expected that more exchange relationships will be activated soon because the extended deadline in Peru for filing CbC reports for FY 2017 is in mid-March 2019. Read TaxNewsFlash

The original intention of the tax authorities when extending the CbC reporting deadline (extended from mid-November 2018 to mid-March 2019) was to allow Peruvian officials to sign the CbC reports MCAA and also to allow for the full activation of the MCAA CbC exchange relationships. However, time is running, and it is still uncertain whether it will be possible to activate the relationships before the deadline. Otherwise, Peruvian subsidiaries of foreign multinational enterprises (MNEs) would have to file the CbC report locally in Peru.

In addition, an analysis would be needed to determine, on a case-by-case basis, whether the exchange relationships apply for past CbC reports (FY 2017 and FY 2018) or only for CbC reports for FY 2019 and later.

It is expected that the tax authorities will issue a communication soon regarding this matter and to provide clarifying guidance.


For more information, contact a tax professional with KPMG’s Global Transfer Pricing Services practice in Peru:

Juan Carlos Vidal | +51 (1) 611 3000 Ext. 1015 |

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