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Taxes

 
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brian1972



Joined: 30 Mar 2007
Posts: 73
Location: Pachuca Mexico

PostPosted: Thu Jul 10, 2008 5:37 pm    Post subject: Taxes Reply with quote

I read in an old post that mentioned high taxes during your first year teaching. How much might one pay??
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naturegirl321



Joined: 04 May 2003
Posts: 9041
Location: home sweet home

PostPosted: Thu Jul 10, 2008 11:41 pm    Post subject: Reply with quote

30 percent. And it's not really the first year. FOr example, you have to be here 180 days during a calendar year, then the following year it starts. So if you come here in August 2008, you won't qualify until 180 days into 2009, so you get reduced taxes, 20 percent to 15 percent starting 1 Jan 2010.
More is on www.expatperu.com click on the Expat Law and start reading.

HOWEVER, lots of schools will pay the tax for you.
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keepwalking



Joined: 17 Feb 2005
Posts: 194
Location: Peru, at last

PostPosted: Mon Jul 14, 2008 4:36 pm    Post subject: Reply with quote

While you are applying for the work visa you pay reduced tax and you don't get charged back tax once you are official. That can take between 4 and 5 months.

My understanding is a little different to naturegirl's - I had my work visa from May 2006 and paid nearly 40% tax until the end of that calendar year. This included payments to a pension plan though, so not all was governemtn tax. I then went onto normal rates.

I [i]think[/i] it depends on the type of visa you have (work or spousal) and how good the accountancy department is in your place of work. Some seem to be able to find ways around the rules, others don't. I don't know a single Peruvian who understands this system!

I would certainly factor in a minimum of 30% tax for 6 months when you consider offers. Alternatively, teach without a visa at an institute to remain outside the system.
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naturegirl321



Joined: 04 May 2003
Posts: 9041
Location: home sweet home

PostPosted: Mon Jul 14, 2008 6:50 pm    Post subject: Reply with quote

I guess I lucked out. My school paid for my taxes. Smile And for the gringos at my current school, they're also getting their taxes paid for and ironicallys are making much more than I am simply because they were hired abroad.
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keepwalking



Joined: 17 Feb 2005
Posts: 194
Location: Peru, at last

PostPosted: Mon Jul 14, 2008 8:07 pm    Post subject: Reply with quote

Yeah they do the same thing here! Locally hired Brits get paid less than those who come from the UK. And they don't even get the flights deal either! Strange logic in there somewhere, but not sure where.
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Luna Chica



Joined: 04 Sep 2005
Posts: 177
Location: Trujillo, Peru

PostPosted: Wed Jul 23, 2008 12:08 am    Post subject: Reply with quote

But then logic is something that Peru is not really great at right?
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