Import Tariffs: The entering into force of the U.S.-Peru Trade Promotion Agreement (PTPA) eliminated duties on 80% of qualifying capital goods since February 1, 2009. The remaining dutiable items have a phase out schedule from 6 to 17 years. The non-weighted average tariff is 3.2% (including surcharge), down from over 60% in the mid-1990s. Most imports (93% of codes) are also subject to an 18% value added tax (VAT), as are domestically produced goods. In addition, an excise tax (ISC) is applied to certain products such as tobacco and alcoholic beverages. There are no quantitative import restrictions.
Import Duty: Peru imposes no duties on 56% of the items in its tariff schedule (4,224 codes covering some agricultural and intermediate goods, capital goods not produced locally, drip irrigation systems, some vehicles, books, some information technology items, cement, liquefied petroleum gas, some fuels, energy saving bulbs, and bank notes); 6% duties on 34% of the items (2,538 codes mainly regarding consumer goods and some intermediate goods); and 11% duties on 10% of the items (792 codes including rice, sugar, vegetables, dairy products, beef and beef products, chocolate, textiles, apparel, footwear, and other agricultural products).
Import Requirements and Documentation: For imports, Customs (SUNAT) requires a Customs Merchandise Declaration (DAM – in Spanish), a commercial invoice, an airway bill or bill of lading, a packing list, and an insurance letter. If the product is imported from other Andean Community members (Colombia, Ecuador and Bolivia), a certificate of origin is required to qualify for tariff preferences. Several imports are subject to antidumping and countervailing duties. A certificate of origin is required for these products coming from other countries to avoid these duties. U.S. firms have experienced delays clearing products through customs as a result of this requirement. Goods can be brought into the country and kept in a bonded warehouse without paying import duties for up to twelve months. During that period the importer can pay the duties on the goods kept in the warehouse and clear customs, or re-export them. This can be done for the entire shipment or it can be broken down according to the importer’s needs.
Customs Regulations: Peruvian Customs or La Superintendencia Nacional de Aduanas y de Administración (SUNAT) clearance’s “valuation service” must be considered for imports whose customs value (CIF) exceeds three (03) Tax Reference Units (UIT – Unidad Impositiva Tributaria). The value valid for 2016 for one UIT is 3,950 Soles or 1,186 US Dollars considering an exchange rate of 3.33 to the dollar. SUNAT’s clearance charge is 2.35% of one UIT, however in the practice, SUNAT applies a USD 34 flat valuation fee. Items imported under the U.S.-Peru Trade Promotion Act– PTPA, are exempt from this fee. Often, SUNAT requests that the importer provide a Manufacturer’s Price List. This document must be certified by the Peruvian consulate in the country of purchase. This price list should not be addressed specifically to the importer, but rather include general information. This is very important in order to be accepted by SUNAT.
U.S. Export Controls: The U.S. government controls the export of weapons, ammunition, high technology machinery and equipment (e.g., certain high performance computers, precision industrial machinery, latest generation night vision equipment, polygraphs, etc.) and some chemicals (e.g., sodium cyanide).
Source: The International Trade Administration (ITA), U.S. Department of Commerce www.export.gov