Lima, Peru | Saturday 07 November 2009 18:58 | | |

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How can the currency exchange rate affect my travel budget?
Everyone wants to have enough money on a vacation to enjoy all the attractions that make a holiday enjoyable. Planning a vacation to another country can be a struggle unless you have an understanding of the currency exchange market. A travel budget is not accurate unless current currency exchanges values are used to create your travel budget. Exchanging currency when you arrive or right before you depart on a holiday can destroy a vacation budget and ruin your trip. Planning a vacation in another country takes time, patience and some help from a reliable currency exchange professional.
Luis Felipe Gamarra - El Comercio
Translation: Vanessa Castro Chesterton - Living in Peru
Leslie Pierce is a man of few words. Sensible, discrete and cautious. He only makes public appearances once a year to discuss Alicorp’s fiscal performance. However, Pierce considers there is reason enough to stand up and say something. On one hand the Executive considers that the price of oil must still be reduced by a %15 margin. On the other, the Dumping and Subsidies commission of the Indecopi has just reduced the sanction against Argentinean oil, which was put into action in 2002 to allow the market to lower oil prices. To Alicorp, oil is a product which brings in 30% percent of its income, a product which has given it a 60% advantage over the market total, and thus a very important subject.
Info provided and translated by the1) Until 2005, whenever the results generated by IFD contracted outside the country were negative (a loss), the Sunat did not accept the deduction of the loss on the basis of an erroneous interpretation of Article 51 of the Orderly Unique Text of the Income Tax Law (TUO), which establishes that resident taxpayers will compensate one another for the results of their sources that produce foreign income, and only if these operations result in net income, will they be added to their Peruvian income.
Evidently, Article 51 of the TUO was not applicable to IFD contracted outside Peru, since the taxpayer who is resident of Peru and contracts these instruments is not carrying out an activity abroad. In effect, simply contracting an IFD outside of Peru cannot be considered as undertaking an activity abroad, another reason why cases of coverage IFD are treated as goods or services located in Peruvian territory.
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