Andina

Peru: Congress closer to passing bill to boost stock market

ANDINA/Oscar Farje

ANDINA/Oscar Farje

20:26 | Lima, Aug. 26.

The Peruvian Congress' Committee on Economy, Banking, Finance and Financial Intelligence unanimously passed the bill introduced by the Executive Power, which promotes liquidity and integration of the stock market.

The said document was introduced last Monday and will be debated during a plenary session on Thursday. If approved, it will be officially enacted.

The initiative was supported by nearly all members of the said committee, but congressman Roberto Angulo.

Before voting process took place, Finance Minister Alonso Segura, Central Reserve Bank General Manager, Renzo Rossini and Lima Stock Exchange President, Christian Laub, stood before the said committee, in order to support the initiative.

Exoneration thru 2018

It should be noted the bill aims at boosting liquidity on the local stock market by exonerating capital gains, resulting from the sales of shares, from being subject to income tax thru December 31 2018.

This will depend on deals meeting certain liquidity requirements and accounting for less than 10% of enterprise’s shares.

(END) RGP/JJN/AVV/MVB


Published: 8/26/2015
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