Information about Peru Minimum wage and taxes.

In Peru, the minimum wage is a wage determined to maintain the living standards of employees. As of 2021, the minimum wage in Peru has been determined as 930 Peruvian sols (PEN) per month. The tax system in Peru includes different types of taxes, such as income tax and value added tax (VAT). Income tax is calculated based on personal income and is applied at different rates according to different income brackets. Income tax rates in Peru are as follows: - A tax rate of 8% applies to persons with annual income up to PEN 41,500. - A 14% tax applies to individuals with annual income between PEN 41,500 and PEN 83,000. - A 17% tax applies to individuals with annual income between PEN 83,000 and PEN 132,000. - A 30% tax applies to individuals with annual income of more than 132,000 PEN. Value added tax (VAT) is a type of tax levied on consumption. The VAT rate in Peru is generally 18%, but some goods and services may be subject to 5% or 0% VAT. This information includes general information about minimum wage and tax in Peru, valid as of 2021. Tax rates and other details may change and be updated over time, so it is beneficial to obtain up-to-date information from the official tax authority or consultancy from experts.