Peru - Import TariffsPeru - Import Tariffs
The United States - Peru Trade Promotion Agreement (PTPA) eliminated duties on 80% of qualifying capital goods since February 1, 2009. The remaining dutiable items have a phase out schedule from 6 to 17 years. Peru imposes no duties on 70.4% of the items in its tariff schedule (5,487 codes covering some agricultural and intermediate goods, capital goods not produced locally, drip irrigation systems, some vehicles, books, some information technology items, cement, liquefied petroleum gas, some fuels, energy saving bulbs, and bank notes); 6% duties on 20.8% of the items (1,621 codes mainly regarding consumer goods and some intermediate goods); and 11% duties on 8.8% of the items (682 codes including some vegetables, some beef and beef products, chocolate, textiles, apparel, footwear, and other agricultural products). The non-weighted average tariff is 2.2% (including surcharge), down from over 60% in the mid-1990s.
Most imports (93% of codes) are also subject to an 18% value added tax (VAT), as are domestically produced goods. In addition, an excise tax (ISC) is applied to certain products such as tobacco and alcoholic beverages. There are no quantitative import restrictions.
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Most imports (93% of codes) are also subject to an 18% value added tax (VAT), as are domestically produced goods. In addition, an excise tax (ISC) is applied to certain products such as tobacco and alcoholic beverages. There are no quantitative import restrictions.