TOURISM

INDUSTRY
June 2023

Business Investment Promotion Division

Research, Market Intelligence and Policy Advocacy Team

PERU WILL ENCOURAGE INCOMING TOURISM THROUGH THE REFUND

OF THE VALUE ADDED TAX (VAT-IGV) TO NON-RESIDENT FOREIGN TOURISTS1

Tourism in Peru follows a progressive path of recovery; according to MINCETUR data, it is estimated that,
by the end of this year, the flow, both for domestic and receptive tourism, would have an increase of 10.5%
for international arrivals and 26.4% increase for domestic tourism.

Peru: Domestic Tourism Trips Peru: International Arrivals

(in thousands) (in thousands)
40,000 2,500
2,219,871
35,000 34,262,782
30,000 2,000 2,009,275
27,102,280
25,000
1,500
20,000
15,000 16,496,149
1,000
14,369,718 896,523
10,000
500
5,000
444,331
0 0
2020 2021 2022 2023 P/ 2020 2021 2022 2023 P/

Source: Mincetur - VMT - DGIETA. As of May 2023

p/: Projected

On the other hand, thanks to the Early Recovery Regime of the Value Added Tax (VAT-IGV), investments
have been diversified around the country. In this way, between 2023 and 2024, the tourism industry is
expected to have 5 new hotel chains outside of Lima encompassing USD 40.7 million, as well as the first
cable car project in Cusco for USD 26.1 million.

In this sense, with the aim of continuing to encourage and boosting receptive tourism and tourism
investments in our country, the government approved the Refund of the Value Added Tax (16%) to
non-resident foreign tourists, through Superintendency Resolution No. 000097-2023/SUNAT, released on
May 1st of this year.

1
Sources:
https://busquedas.elperuano.pe/normaslegales/resolucion-de-superintendencia-que-establece-el-procedimient-resolucion-no-000097-2023sunat-2173450-1/
https://gestion.pe/economia/tax-free-devolucion-del-igv-a-los-turistas-conoce-el-procedimiento-plazos-y-mas-detalles-gobierno-turismo-turistas-extranjeros-peru- united-sta-
tes-mexico-colombia-news/?ref=gesr
https://www.gob.pe/institucion/sunat/informes-publicaciones/4180186-devolucion-de-igv-a-turistas-tax-free
https://www.gob.pe/institucion/mincetur/noticias/675709-ministro-sanchez-mas-de-us-111-millones-en-inversion-hotelera-gracias-al-rera-igv

TOURISM INDUSTRY JUNE 2023

This mechanism consists of the return of the tax of those goods acquired by non-resident foreigners who
enter the country as tourists, and are taken abroad upon their return to their country, as long as i) they
are taken by themselves, by air or sea; ii) comply with the requirements established in the aforementioned
resolution; and iii) their departure from the country is conducted through an established mandatory
control point.

For its execution, there are authorized stores that issue the "Tax Free" certificates of the products
purchased.

Through the authorized control points, these tourists can request, upon leaving Peru, the return of the VAT
of taxed goods acquired in these authorized stores, which will allow greater consumption in the regions
and permanence in the country, further boosting the industry and consolidating Peru as an attractive
destination for tourism and foreign direct investment.

It should be noted that for the moment the authorized control point is the Jorge Chávez International
Airport (AIJCh), the main point of entry of foreign tourists to the country. According to MINCETUR data,
between January and April of this year, 63.7% (422.5 thousand) of international tourists who entered
Peru, used this point.

For more information, contact us at:

inversionesperu@promperu.gob.pe
www.promperu.gob.pe