Walker Villanueva, a Tax and Legal Advice Manager at Deloitte, wrote an article of opinion for “El Peruano” newspaper called The FTT is a payment on account of IT.

Payments on account are obligations autonomous from the Annual Income Tax, because the rates, basis of calculation, determination, eligibility, exigibility and times of payment are different, yet at the same time they are obligations related to IT for their exigibility ceases when that of the annual IT begins.

A copy of the article is included below.