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Peru's Tax Authority Signs Pact With US Homeland Security

by Mike Godfrey, Tax-News.com, Washington

30 November 2015


The US Department of Homeland Security (DHS) and Peru's National Customs and Tax Administration (SUNAT) signed an agreement on November 20, 2015, to establish a Trade Transparency Unit (TTU).

The TTU partnership will enhance the two agencies' ability to detect trade-based money laundering and other illicit trade schemes used by transnational criminal organizations and terrorist groups. The new agreement will also enhance information-sharing between the United States and Peru to help prevent and investigate customs offenses.

Through the TTU agreement, HSI and the SUNAT will exchange import and export information for merchandise that travels between the United States and Peru. The exchange of information, accomplished through HSI's Data Analysis and Research for Trade Transparency System, will allow users to see both sides of the trade transaction, making the transaction transparent. This capability will assist both HSI and the SUNAT in identifying international trade anomalies and financial irregularities indicative of trade-based money laundering, smuggling, customs fraud, movement of counterfeit goods, and other import-export crimes.

The TTU information-sharing methodology has been highlighted in the United States and by the Financial Action Task Force as a best practice in combating trade-based money laundering. HSI currently has information-sharing partnerships with 11 countries including Argentina, Australia, Colombia, Ecuador, Guatemala, Mexico, Panama, Paraguay, the Philippines, the Dominican Republic, and now Peru.

TAGS: money-laundering | compliance | tax | tax compliance | export duty | law | tariffs | agreements | Peru | United States | import duty | regulation | trade | mutual assistance agreement | Tax | Tax Evasion

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