Beverly Hills 12/15/2009 3:51:44 AM
News / Business

Peru’s Finance Minister Points to $70 Million Lost to Lack of Capital Gains Tax

Finance World News Update by EQUITIES Magazine

Peru’s Finance Minister Luis Carranza sais that the country would have collected roughly 200 million soles ($70 million) more in taxes this year if a planned capital gains tax had been in effect from the beginning of 2009.

 

The government delayed the entry of the tax to start in 2010 because of the global financial crisis.

 

Peru's stock market is saying the tax will make the Peruvian market less competitive than those in Chile and Colombia, which don't have capital gains taxes.

 

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