MEF: Double taxation agreement boosted Brazilian investment in Peru

In 2024, Brazil invested more than $1.682 billion in our country
The Minister of Economy and Finance, Raúl Pérez-Reyes, affirmed that the double taxation avoidance agreement signed between Peru and Brazil boosted the South American giant's investments in our country, especially in the mining sector.

"We have a trade agreement, ACE 58, and within the framework of that agreement, a double taxation avoidance agreement was signed in February 2006," recalled the head of the MEF.
He explained that this agreement came into force on January 1, 2010, and has undergone significant growth because it has accompanied the growth of Brazilian foreign direct investment in Peru.

In which activities is double taxation avoided?
In this regard, Pérez-Reyes stated that approximately 79% of the implementation of the agreement that has avoided double taxation is concentrated in the mining sector, one of the most important and attractive sectors for Brazilian capital.
“60% of Brazil's foreign direct investment in Peru is concentrated in mining; approximately 20% is in agro-industrial activity, and the remainder is distributed across a range of activities, including services,” the minister stated.
Therefore, he added, this agreement is undoubtedly a mechanism for promoting investment, as it avoids double taxation.

Brazilian Investment in Peru
The head of the MEF asserted that the dynamics of Brazilian investment in Peru have been very significant.
“Thus, by December 2024, Brazilian investment in the country has reached $1.682 billion. For this reason, it is important to view this trade and investment relationship as one of the most important for Peru,” Pérez-Reyes explained.
He added that after China, the United States, and the European Union, Brazil is one of Peru's main trading partners.
"I could say it's the most important Latin American trade and investment partner we have," he stated.