The Work for Taxes, a mechanism which consist of paying taxes through the execution of public works projects by private companies, will show more dynamism during this year as a result of important changes made to the Peruvian legal framework for investment.
According to the Executive Director of Proinversion, Alvaro Quijandría, these changes will enable a more transparent and simplified process as well as a reduction in transaction costs associated with the execution of projects.
In the first half of 2017, there have been 49 projects awarded through the Work for Taxes mechanism, accounting for an investment commitment of S/ 536 million, a growth of 115% compared to the first half of 2016.
In this occasion, the Ministry of Development and Social Inclusion has presented a portfolio of 95 projects as well as 148 ideas of projects, totalling S/. 280 million.