Legal Requirement

According to Section 62° of the Rent Tax Act, goods valued at acquisition or production cost must uniformly apply the same valuation method or methods from year to year.

According to Section 35° of the Rent Tax Act Regulations, most companies must keep a standard cost system that valuates their goods to actual cost. The taxpayer must provide the report and the technical studies that support the application of the cost system when required by SUNAT (Superintendencia Nacional de Administración Tributaria).