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Peruvian Congress Approves Agricultural Law Including Income Tax Rate Reduction
Lima, Peru – August 22, 2025 – In a significant development for Peru’s agricultural sector, the nation’s Congress has passed a new agricultural law that includes a notable reduction in income tax rates for farmers. This legislative achievement, announced by the Japan External Trade Organization (JETRO) on August 22, 2025, is anticipated to provide a substantial boost to agricultural businesses and encourage further investment and growth within the industry.
The newly enacted law, which received parliamentary approval, aims to revitalize and strengthen Peru’s vital agricultural output by addressing key financial considerations for producers. The inclusion of income tax rate adjustments is a central component of this legislative package, signaling a commitment from the Peruvian government to support its farming communities and enhance their competitiveness on both domestic and international stages.
While specific details regarding the exact percentage of the income tax reduction were not elaborated upon in the initial announcement, the overarching objective is to alleviate the tax burden on agricultural enterprises. This measure is expected to translate into improved profitability for farmers, enabling them to reinvest in their operations, adopt more advanced technologies, and potentially expand their cultivation efforts.
The agricultural sector is a cornerstone of the Peruvian economy, contributing significantly to employment, exports, and the national food supply. By enacting this law, the Peruvian Congress demonstrates a forward-thinking approach to agricultural policy, recognizing the challenges faced by farmers and proactively implementing measures to foster a more sustainable and prosperous future for the industry.
This legislative move is likely to be welcomed by a broad spectrum of stakeholders within the agricultural value chain, from smallholder farmers to larger agricultural corporations. The potential for increased financial resources could lead to enhanced productivity, improved quality of produce, and greater capacity to meet market demands. Furthermore, a more favorable tax environment may attract new investment into the sector, fostering innovation and the adoption of best practices.
The Japan External Trade Organization (JETRO)’s timely dissemination of this information underscores the importance of this development for international trade relations and investment opportunities. As Peru continues to solidify its position as a key player in global agricultural markets, such supportive domestic policies are crucial for sustained growth and success. Further details regarding the implementation and specific benefits of the reduced income tax rates are expected to be released by the Peruvian authorities in the coming weeks.
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日本貿易振興機構 published ‘ペルー議会、所得税率引き下げを盛り込む農業法を可決’ at 2025-08-22 05:25. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.