Peru

In Peru, cryptocurrencies are legally classified as intangible movable assets under the Income Tax Law. They are not considered currency or securities. Cryptocurrency activities are legal, and while there is no dedicated regulatory framework, general income tax laws apply to profits and income generated from crypto. The Superintendencia Nacional de Aduanas y de Administración Tributación (SUNAT) is the primary tax authority responsible for administering and enforcing cryptocurrency taxation. SUNAT integrates digital assets into the existing tax system, primarily through the Income Tax Law. For individuals, gains from occasional crypto sales are subject to capital gains tax at progressive rates ranging from 8% to 30%. However, a significant benefit exists: if you hold cryptocurrency for over one year, gains from occasional sales are entirely exempt from tax. If crypto trading is habitual, profits are instead treated as business income. Other forms of crypto income for individuals are taxed at the same progressive rates of 8-30%. For corporations, crypto income is taxed at a flat rate of 29.5%. There is no VAT applied to crypto transfers, as they are considered intangible asset transfers. Both converting crypto to fiat currency and swapping one cryptocurrency for another are taxable events, triggering either capital gains or income tax on the realized profits. Staking rewards are taxed as ordinary income upon receipt, subject to individual progressive rates (8-30%) or the corporate rate (29.5%). Mining activities are also treated as business income, with the same individual and corporate tax rates applying, and hardware and electricity costs are deductible. For DeFi activities and NFTs, there is currently no specific guidance. Profits from these activities are likely treated under general capital gains or income tax rules, given their classification as intangible assets. Since early 2025, SUNAT has been actively formalizing and integrating cryptocurrency taxation into the existing system, increasing enforcement using blockchain analytics and Know Your Customer (KYC) data. While no new specific laws have been announced, this ongoing formalization may materially change existing interpretations and enforcement.