Crypto Taxation in Peru: A Complete Guide

Over the past years, the adoption of cryptocurrency has highly increased in Peru, with different digital assets like Bitcoin and Ethereum being adopted by individuals and businesses. In addition, know that if crypto activity grows, crypto activity is going to have to be taxed too. By adhering to tax compliance, customers steer away from big penalties and conform to the country’s regulatory standards. 

Peru’s main tax authority, the Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT), is seeking to formalise the taxation of cryptocurrency, and, therefore, people in this country can no longer ignore what tax they owe on crypto assets.

Tax Authorities & Regulations

Peru’s main entity in charge of cryptocurrency taxation is SUNAT. Without any crypto-specific legislation yet, SUNAT is headed towards the inclusion of digital assets in the existing taxation system. In early 2025, SUNAT announced that profits from crypto transactions could fall under Capital Income taxes, a regulatory change.

Cryptocurrencies largely remain intangible, movable assets along with other nonphysical and nonmonetary assets in line with international standards. That classification determines whether crypto is taxable under existing income and capital gains tax rules.

Types of Crypto Taxes in Peru

• Cryptocurrency is taxed when you sell, transfer, or exchange for profit at a higher value.
• Income Tax applies to incomes earned in crypto through mining, staking, airdrop and payments in crypto.
• Value Added Tax (VAT): These do not apply to crypto transactions as crypto transactions are considered intangible asset transfers.
• Financial Transaction Tax (FTT): applies to funds transferred to your local bank account that relate to crypto.
• Wealth or Inheritance Tax: Not currently applicable to cryptocurrency holdings in Peru.

Tax Rates & Brackets

Capital Gains Tax:

• Individuals are not taxed unless their transactions become habitual and are then subject to income tax rates.
• For companies: Flat rate of 29.5%.

Income Tax Slabs (Individuals):

• Rates vary progressively from 8% to 30% according to total income.

Exemptions:

• Peru’s Income Tax Law allows for the exemption of gains from assets held longer than one year.
• Each case is different, but it is possible that business-related expenses (like mining costs) may be deductible where sufficiently documented.

Crypto Transactions & Tax Treatment

• The buying, as well as the selling, of crypto, is subject to capital gains taxes if the sale is for a profit.
• Crypto Mining and Staking: Generated income that is categorised as taxable income, which is taxed at the rate of regular income.
• Crypto Received as Salary or Payment: Taxable as personal or business income.
• Gains realized in the crypto-to-crypto trades are considered to be taxable events.
• Since the setup is very flexible, it may be income or capital gains, depending on how the DeFi activities (lending/yield farming) are set up.
• NFT sales are liable to capital gains tax.

Crypto Tax Reporting & Compliance

In a similar manner, like any other taxable activity, taxpayers are required to declare their annual income tax, which is due by the 31st of March of any year. Although there are no crypto-specific forms relating to digital assets, digital asset income must be reported in similar forms to standard disclosures. 

Individuals and companies must keep accurate records of the acquisition date, value of the transaction in Peruvian soles and supporting documentation in accordance with the rules SUNAT dictates. Failure to comply may result in large penalties so it is highly recommended that a tax advisor is consulted.

Tax Deductions & Exemptions

Legal business-related crypto expenses like mining hardware, electricity and transaction fees can be deducted by taxpayers as long as they are well documented. Losses resulting from cryptocurrency transactions could be reduced against general tax laws. 

Also, long-term holders may be free from any capital gains if that crypto has been held for more than one year, but crypto-specific guidance for the same is in evolution.

Enforcement & Penalties for Non-Compliance

Already, SUNAT is strengthening crypto enforcement by using data from financial institutions, crypto exchanges and platforms that comply with the Know Your Customer (KYC) rules. Other tools that use blockchain analytics are also being used to trace taxable activities. Penalties may go up to 300% of the undisclosed tax, plus interest, for citizens who do not declare crypto income. 

Criminal charges apply in case of severe intentional evasion. SUNAT has begun mailing inductive letters to those who are suspected of not declaring crypto income to justify transactions and financial activities. With scrutiny increasing, staying compliant becomes a must.

Future of Crypto Taxation in Peru

It’s possible that crypto taxation in Peru could be formalized within a couple of years. Crypto then will fall under Capital Income according to SUNAT’s ongoing evaluations, but in a more structured and enforced way. 

All these may make the regulatory environment more clear and attract more investment whilst making sure that taxation is fair. Nevertheless, details and time frames for the implementation are still under discussion.

Conclusion

Although Peru’s crypto taxation remains developing, SUNAT is making sound steps towards proper law. From 2025 onwards, individuals and businesses have to start reporting crypto income or capital gains with rates starting between 8% and 30% for individuals and 29.5% for companies. 

It is necessary to observe compliance by maintaining accurate record-keeping and reporting in time to avoid serious penalties. Due to its intricate nature, you should seek professional tax advice from someone who handles both Peruvian tax amounts and crypto transactions.

Frequently Asked Questions (FAQs)

1. Is cryptocurrency legal in Peru?

Cryptocurrencies are legal to use, trade, and own in Peru, but do not recognize them as legal tender.

2. Is there a tax to pay if I just buy and hold crypto?

However, simply holding crypto does not carry the need to pay any tax. The tax is applied to profit if sold or traded.

3. Are crypto-to-crypto transactions taxed in Peru?

Yes, this does count as a taxable event for capital gains tax if the trade results in a gain.

4. Do I have to report income from staking or mining?

Yes, mining or staking earnings are considered income and must be declared in the annual tax declaration.

5. What happens if I don’t report my crypto gains?

Failing to report the income can result in fines as high as 300% of the taxes owed, interest charges, and even criminal prosecution for willful evasion.