The Young Entrepreneur Law is published

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Today, July 12, 2023, Law No. 31828, the Young Entrepreneur Law, has been published, which aims to promote the formal hiring of young people between the ages of 18 and 29, who are unemployed for 12 months or more.

Below, we detail the benefits granted through the aforementioned Law:

• Simplified registration and constitution process.
• Additional deduction equivalent to 50% of the basic remuneration paid to the new worker for purposes of determining the income tax for the years 2024 and 2025, provided that the following requirements are met:

• Refund of the general sales tax (IGV) for export operations of goods and services, in accordance with the provisions of current legislation.
• In the processes of contracting goods, services or works of public sector entities, companies constituted by young people, whose age is equal to or greater than 18 years and not greater than 29 years, have an additional score bonus of 5%. in the technical proposal.

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