Peru: Chancay and Callao Ports in pilot plan for Special Economic Zones

Economy and Finance Minister Jose Salardi announced that the Ports of Chancay and Callao will be included in a pilot plan for the implementation of Special Economic Zones (SEZs) in Peru.

“An initial pilot will begin, which I believe is obvious, and it will have to be in the area of the Chancay and Callao Ports. From there, we will move forward evaluating the experience,” Salardi indicated on Monday, March 11.

“Based on that validation, other Special Economic Zones that benefit the country’s economy may be included, with a long-term outlook, as has happened with other economies that have followed this path,” he added.

The government official expressed his support for the proposal of a 0% Income Tax for companies that set up and operate in the SEZs.

“We have definitely conducted the necessary evaluations and believe that the 0% is the best measure to boost Special Economic Zones,” Salardi indicated.

“It is not only about what one supposedly would not collect from something that does not exist today, but also about all the collateral impacts this measure has on job creation and consumption possibilities for the population, in addition to the transfer of know-how brought by a new industry and the ability to generate indirect revenue through new taxes,” he added.

Moreover, the minister commented that the Government has conducted an assessment of the impact of this measure to boost the SEZs.

“I believe that, in this cost-benefit analysis, it turns out to be much more efficient for Peru to adopt this line of action to boost these Special Economic Zones,” he concluded.

Source: Agencia Andina

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