Proper tax management in a company is not limited to filing returns and meeting periodic obligations. It also involves assessing whether its transactions have economic substance, adequate documentation and a tax treatment consistent with current regulations.
In this context, Peru's National Superintendency of Customs and Tax Administration (SUNAT) published in June 2026 the fourth version of the Catalog of High Tax Risk Schemes, adding 11 new schemes that could involve an incorrect determination of tax obligations or the obtaining of undue tax advantages.
This update underscores the importance of companies reviewing their transactions and strengthening their tax control and prevention mechanisms.
What are high tax risk schemes?
They are situations or transactions that, because of their characteristics, could involve tax avoidance, simulation or the improper use of tax benefits, among other cases that require assessment under the applicable legislation.
SUNAT's catalog serves an informative and preventive purpose: it lets taxpayers know certain structures that could be subject to priority review by the Tax Administration.
It is important to note that the inclusion of a transaction in the catalog does not, in itself, mean that a tax infringement exists. Each situation must be analyzed considering its particular circumstances, the economic and legal reasons behind it and the corresponding regulations.
What does the catalog update cover?
Version 4.0 adds situations related to financial transactions, corporate reorganizations, real estate transfers, dividend distributions and transactions between related companies, among others.
Some of the new schemes cover:
- Transactions with related companies: structures in which an entity's lack of economic substance could be relevant when assessing the tax treatment of certain transactions.
- Financing and capital contributions: situations in which the true nature of the resources provided must be assessed beyond the contractual label used.
- Reorganizations and share transfers: transactions whose structure and tax effects require a comprehensive analysis.
- Real estate transfers and leases: schemes in which the economic reality of the transactions and the associated tax benefits should be examined.
These cases should not be interpreted in isolation or as a general prohibition on carrying out the transactions described. Their assessment depends on the specific characteristics of each case and the applicable tax provisions.
What should companies review?
Given this context, companies are advised to strengthen their preventive tax review, paying special attention to the following aspects:
- Economic rationale for transactions: Verify that business decisions respond to identifiable economic reasons and that their structure is consistent with the activity carried out.
- Contractual and accounting documentation: Check that contracts, payment receipts, accounting records and other documents reflect the transactions actually carried out and support their tax treatment.
- Related-party transactions: Assess the agreed terms, the functions performed by each party and compliance with the applicable provisions, including transfer pricing rules where relevant.
- Tax treatment of extraordinary transactions: Before carrying out corporate reorganizations, financing transactions, asset transfers or other especially significant transactions, analyze their tax implications and the applicable legal requirements.
- Periodic review of contingencies: Identify possible inconsistencies between economic reality, available documentation and the tax treatment adopted, so that appropriate measures can be assessed in a timely manner.
Tax prevention as part of business management
Sound tax management requires anticipating risks, keeping sufficient documentation and assessing the tax implications of business decisions before they are implemented.
Preventive review does not seek to restrict legitimate transactions or discourage tax planning permitted by law. Its purpose is to help ensure that decisions are properly supported and that tax obligations are determined in accordance with current regulations.
At CBA, we believe that timely analysis of transactions and stronger accounting and tax controls are important elements of responsible business management.
Anticipating tax contingencies makes it possible to make decisions with greater confidence and strengthen compliance with tax obligations.
Official source: SUNAT, Catalog of High Tax Risk Schemes — version 4.0 (in Spanish).
This article is for information purposes only and does not constitute tax advice for any particular case. Assessing each transaction requires considering its specific circumstances and current regulations.