What is Law No. 29230?

Law No. 29230, called "Works for Taxes Law" (Ley de Obras por Impuestos) is a regulation issued by the Peruvian government which seeks to accelerate the implementation of priority public infrastructure projects across the country.

The Law allows a private company, individually or in a consortium, to fund and implement public projects chosen by Regional and Local Governments, to later recover the total amount of investment from its 3rd category income tax. In turn, the Regional and Local Governments pay funding FREE OF INTERESTS on account of its canon and over-canon resources, royalties, customs revenues and shares up to ten years after completion of the work.

Benefits of Law No. 29230

Since 2008, the year in which the Law was enacted, a series of works have been promoted within the basic public infrastructure such as water and sewage networks, roads, health centers, among others.
All of them have been implemented as part of this new model of public and private sector participation, where everyone wins. The Regional or Local Government wins as it promotes financial resources from identified resources, the company wins since it associates its image to large projects recovering its investment and the society wins as it benefits from a project implemented in less time.
 

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