Peru's Economy Ministry Rules Out Increase in Selective Consumption Tax

The Ministry of Economy and Finance (MEF) of Peru issued an official communiqué stating that it is not evaluating or promoting any increase to the Impuesto Selectivo al Consumo (ISC). The ministry said no economic or fiscal conditions justify a higher rate and dismissed rumors circulated by business groups that cited possible hikes on products such as beer, soft drinks, cigarettes and fuels.

MEF highlighted that the country's economic indicators remain favorable, with continued growth in activity, solid tax collection and fiscal accounts aligned with responsibility and sustainability goals. The ministry urged businesses, media and the public to verify information with official sources, warning that unverified reports can create uncertainty and affect investment and consumption expectations. No legislative proposal or draft decree on raising the ISC exists at present.