The recently-enacted Law for the Promotion of Foreign Trade of Services will translate into a major boost to Peruvian economy through greater revenue and increased employment, Foreign Trade and Tourism Minister Eduardo Ferreyros affirmed.
The government official explained the
measure targets businesses offering services to foreign clients based both in Peru and overseas.
"This regulation will grant Peruvian suppliers, offering services to foreign clients, the same tax treatment as that of those exporting goods […]," he revealed.
Ferreyros explained the initiative seeks to promote a new wave of Peruvian enterprises, focusing mainly on small and medium-sized firms.
The law will also facilitate the consolidation of tourism clusters by promoting new investments and development in
tourism, logistics, professional and business services.
"The government's objective is to increase business service exports by 40% in the short term," he assured.
In this sense, Minister Ferreyros underlined said exports account for 21% of global trade and represent a US$4.75 billion turnover.
The new law regards tourism and freight supplementary services as service exports. In addition, it covers more tourism-related activities like catering and passenger transport.
Other law provisions will also allow for a tour package export rise of at least 30%.
(END) NDP/DHT/MVB