Tax compliance and policy implementation for leading manufacturing company. Olaechea advised Atlas Copco Perú S.A. on tax compliance and regulatory obligations for the fiscal years 2022 and 2023. Our work focused on ensuring adherence to Peruvian tax statutes, including the determination of income tax and general sales tax, as well as addressing requirements from the Peruvian Tax Authority (SUNAT).
Review and analysis of tax compliance: Our firm conducted a comprehensive review of the client’s operations, identifying areas for improvement and assisting in the design and implementation of internal policies to address compliance risks. We identified gaps such as the absence of a formal commercial discount policy and unsupported employee expenses, which could potentially impact tax deductibility and compliance with SUNAT audits.
Design and implementation of internal policies: We developed and implemented key internal policies tailored to address tax compliance, including: (i) travel policy for work-related expenses; (ii) vehicle assignment policy for employees; (iii) customer discount policy to substantiate deductions; (iv) employee benefits policy, ensuring compliance with tax principles of generality, proportionality, and reasonability.
Coordination with internal teams: Our team collaborated with the client’s human resources and finance departments to analyse current practices and ensure alignment with tax regulations. We provided clear documentation and procedures for policy implementation to minimise compliance risks.
Key player in Peru’s industrial sector: Atlas Peru is the Peruvian subsidiary of Atlas Copco Group, a global leader in industrial solutions, specialising in the design, manufacture, and service of a wide range of equipment and machinery for various industries, focused on productivity, energy efficiency, safety, and ergonomics. It operates in the Peruvian market, offering products and services tailored to the needs of local industries, including mining, construction, energy, and manufacturing.
Latest development: With our assistance, the client implemented comprehensive internal policies.
