Peru's Foreign Trade and Tourism Minister Roberto Sanchez reported that from 2014 to date Peru reported around US$111,025,595 in hotel investment thanks to the Special Regime for Early Refund of General Sales Tax (RERA IGV).
Sanchez explained that this amount comprises works in progress and projects that are close to being viable.
"These works are located in the regions of Piura, San Martin, Cusco, Arequipa, and Ica. In addition, they show that the measures promoted by the Executive Branch encourage investment in the tourism sector, thus generating well-being and creating jobs, in conditions of equality and well-being for all Peruvians," he said.
Incentive
The RERA IGV promotes private investment in various sectors, through the refund of the General Sales Tax (IGV).
In the tourism sector, it is applied to projects aimed at the construction of hotel infrastructure and other projects of a tourist nature.
Minister Sanchez commented that the RERA IGV facilitates the increase in Peru's tourism infrastructure, promotes and encourages private investment, fosters economic reactivation, and brings foreign currency income to the country, with the consequent increase in investment of national and foreign capital.
"Thanks to the return of 18% of the investment —linked to the IGV— entrepreneurs are provided with greater liquidity to implement the construction of their projects," the government official stated.
"In addition, it boosts local and regional socioeconomic development, generating direct and indirect jobs," he added.
(END) NDP/SDD/JJN/RMB
Published: 12/1/2022