*Beneficiaries would be the ago-exporters, hotels and restaurants
*Congress increases its budget fivefold by 2025
*Country closes the year with a fiscal deficit of 4% of GDP
*Congress increases its budget fivefold by 2025
*Country closes the year with a fiscal deficit of 4% of GDP
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NewsTranscript
00:00The Peruvian Congress is preparing regulations to prevent large companies from paying taxes.
00:04According to some estimates, it is calculated that the state would stop collecting about
00:08$7 billion in taxes that could be used to benefit education and public health of the
00:13majority.
00:14Let's see more.
00:18Peru is one of the countries that collects the least taxes in Latin America.
00:22However, the Congress is preparing a series of measures to exempt large companies from
00:27paying taxes.
00:35All these incentives and privileges that are being granted will affect even more the collection.
00:39It will be difficult for Peru to reduce its fiscal deficit.
00:49Next year there will only be a temporary reduction, but from 2026 we will resume increasing deficit
00:56rates and that will undoubtedly affect the credit risk rating that our country has.
01:07The beneficiaries would be the agro-exporters, hotels and restaurants.
01:11And according to the Ministry of Economy, it is estimated that in 10 years they would
01:15stop paying the state 26 billion soles, that is about $7 billion.
01:28In Peru more than 70% do not have property titles and this does not allow small agriculture
01:35to develop so this is also a shortcoming of the government and the regional governments
01:40that have to give them their property titles so that they can be subject to credit and
01:45there are many issues that the state has abandoned this sector.
01:49There are many gaps to close, for example the issue of communication, both the opening
02:00of roads, basic services.
02:03In the jungle and in the Indian zone it suffers a lot, unlike the coast that has greater benefits
02:10because there is the agro-export.
02:19In this context, the most discredited Congress in Peruvian history has quintupled its budget
02:25for 2025, increasing it from 282 million soles to 14-12 million soles, an approximate of
02:32$380 million.
02:35Who are the ones who benefit?
02:43The companies, the Gloria Group, the Romero Group and other economic groups who are the
02:47ones who benefit and have the land again.
02:49And the agrarian reform of the 1960s has simply ceased to exist in our country because the
02:54land is once again in the hands of a few and they are benefiting at the expense of the
02:58exploitation of the agricultural workers.
03:07Peru ends the year with a fiscal deficit of 4% of gross domestic product, failing for
03:12the second consecutive year to meet the fiscal target of 2.8% of GDP, spending more than
03:19it collects and giving tax advantages to those who have the most.
03:27Latin sectors have been growing significantly and instead of charging them more, they are
03:32being charged less.
03:34Therefore, a tax reform is key and it is not about spending less, but about spending well
03:39and having more resources to spend as a country.
03:42The tax pressure in the country is very low, 14%, it has dropped 2 percentage points in
03:47the last two years and is below the Latin American standard, let alone the standard
03:51of the developed world such as the OECD countries where the tax pressure is around 30% of GDP,
03:57we are below half of that.
04:03For the specialists consulted, there is little hope that the government will comply with
04:07these norms in case they are approved, since the executive has been acting in complicity
04:12with the Congress in favor of the power groups and to the detriment of the great majorities.