Peru’s finance chief is pursuing comprehensive tax reforms targeting forestry and fishing industries to enhance competitiveness. A special economic zone near Chancay port may offer a 0% income tax policy to stimulate growth. These measures aim to bolster the national economy, leveraging potential market growth in global forestry and fishing sectors.
Peru’s finance chief is initiating strategic tax reforms aimed at stimulating growth in key industries, particularly forestry and fishing. The proposed reforms focus on enhancing tax incentives to make these sectors more competitive against counterparts in Chile and Ecuador. Although the details are still being developed, the government’s willingness to collaborate with industry groups signifies a proactive approach to economic enhancement.
Finance Chief Salardi is advocating for the creation of a special economic zone near the recently developed Chancay port. This zone, which historically served as a fishing area, is expected to encourage industrial growth through an initial 0% income tax policy. While concerns about potential revenue loss exist, Salardi asserts that the current economic inactivity in the region justifies this approach, emphasizing the long-term benefits of job creation and industrial advancement.
Industry data highlights the latent potential in Peru’s strategic sectors. The global forest product market is anticipated to witness considerable growth by 2026, and the fishing industry is also projected to expand. These trends reinforce the government’s vision of revitalizing these sectors as a means to strengthen the national economy.
In summary, Peru’s strategic tax reforms are designed to enhance competitiveness in pivotal industries such as forestry and fishing. By establishing a special economic zone with favorable tax conditions and focusing on collaboration with industry stakeholders, the government aims to stimulate growth and job creation. The potential growth in these sectors, coupled with a commitment to long-term economic benefits, marks a significant step in Peru’s economic strategy.
Original Source: www.indexbox.io
