Tax treatment of waste and losses on income and sales tax regimes

Authors

DOI:

https://doi.org/10.33539/lumen.2021.v17n2.2476

Keywords:

Taxes, waste, losses, deductible expenses, tax legislation

Abstract

This paper addresses fundamental notions regarding waste and losses and their treatment in both the Income Tax Law and the Peruvian General Sales Law (a.k.a. V.A.T.). Likewise, several reports issued by the Peruvian Tax Administration were used to define waste and losses and determine what may classify as deductible expenses. Finally, general aspects regarding waste and losses stipulated in the legislations of other countries are detailed in depth applying Comparative Law methods.

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Author Biographies

Haydee Belito Soto, Universidad Femenina del Sagrado Corazón

Estudiante del Noveno Ciclo del Semestre 2021-II de la Escuela Profesional de Derecho de la Universidad Femenina del Sagrado Corazón (UNIFÈ).

Diana Mireya Burga Muñoz, Universidad Femenina del Sagrado Corazón

Estudiante del Noveno Ciclo del Semestre 2021-II de la scuela Profesional de Derecho de la Universidad Femenina del Sagrado Corazón (UNIFÈ).

Published

2021-12-08

How to Cite

Belito Soto, H., & Burga Muñoz, D. M. (2021). Tax treatment of waste and losses on income and sales tax regimes. Lumen, 17(2), 333–345. https://doi.org/10.33539/lumen.2021.v17n2.2476