AGREEMENT BETWEEN THE FEDERAL ADMINISTRATION OF PUBLIC REVENUES OF THE REPUBLIC OF ARGENTINA AND THE TAX ADMINISTRATION OF THE

REPUBLIC OF PERU ON TECHNICAL COOPERATION AND EXCHANGE OF TAX AND CUSTOMS INFORMATION

PREAMBLE Nowadays, economic operations have a transnational character that involve new challenges for the application of the tax systems by the Tax Administrations. The mutual international technical cooperation, by means of the exchange of knowledge and development of new control techniques in the field of the internal and customs taxation, as well as the exchange of information of tax and customs importance, has been revealed as an instrument of essential significance for the effective application of tax systems. By virtue of the previous paragraphs, the Tax Administrations of Argentina and Peru, hereby agree in celebrating this agreement in order to prevent evasion, elusion, fraud and any other illegal tax or customs action and to allow a better application of their tax systems.

ARTICLE 1 OBJECT AND SCOPE OF APPLICATION OF THE AGREEMENT

1. OBJECT The Contracting Tax Administrations shall, on the basis of reciprocity in broad sense, assist each other to exchange technical knowledge by means of consultancies, courses and internships and the exchange of information in all forms, including general information on lines of economic activity related to the veracity or accuracy of the declared value of the goods, simultaneous examinations and the holding of examinations abroad, for assuring the accurate determination, assessment and collection of taxes covered by the Agreement, with a view to prevent and combat, within their respective jurisdictions, tax fraud, evasion and avoidance, and any other illegal tax or customs action, and develop improved information sources for tax and customs matters. 2. SCOPE OF APPLICATION Information shall be exchanged to fulfil the purpose of this Agreement without regard to whether the person to whom the information relates is, or whether the information is held by, a resident or national of the States of the Contracting Tax Administrations.

ARTICLE 2 TAXES COVERED BY THE AGREEMENT

1. TAXES COVERED This Agreement shall apply to all taxes administrated by the Contracting Tax Administrations. 2. IDENTICAL, SIMILAR, SUBSTITUTIVE OR ADDITIONAL TAXES This Agreement shall also apply to any identical or similar tax imposed after the date of signature of the Agreement or taxes in addition to, or in place of, the existing taxes. The competent authorities of the Contracting Administrations shall notify each other, at the frequency agreed, of any change in their legislation, as well as judicial decisions that may affect the obligations of the Contracting Administrations pursuant to this Agreement.

ARTICLE 3 DEFINITIONS

1. DEFINITIONS For the purposes of this Agreement: a) The term Argentina means the Republic of Argentina. b) The term Peru means the Republic of Peru. c) The term Tax Administration means: i. In the case of Argentina: the Federal Administration of Public Revenues; ii. In the case of Peru: the National Superintendence of Tax Administration. d) The term competent authority means: i. In the case of Argentina: the Head of the Federal Administration of Public Revenues. ii. In the case of Peru: the National Superintendent of the National Superintendence of Tax Administration. e) The term national means any citizen and any legal person or any other collective entity, deriving its status from the laws in force in each State of the Contracting Tax Administrations. f) The term person means any individual, legal person, partnership, corporation, trust, estates, or any other collective entity according to the laws of each State of the Contracting Tax Administrations. g) The term tax means any tax to which the Agreement applies.

h) The term information means any fact or statement, in any form whatever, that may be relevant or material to the administration and enforcement of taxes administrated, including among others: i. the testimony of individuals, ii. the documents, records or personal property of a person or Contracting State, and iii. expert opinions, technical concepts, valuations and certifications; iv. information regarding the value of the goods; v. documents, records, certificates, reports and any other type of communication, including electronic communications, or authenticated or legalized copies of such. i) The term Applicant Contracting Tax Administration means the Contracting Tax Administration applying for or receiving information; j) The term Requested Contracting Tax Administration means the Contracting Tax Administration providing or requested to provide information. 2. UNDEFINED TERMS Any term not defined in this Agreement shall have the meaning which it has under the laws of the States of the Contracting Tax Administrations concerning taxes covered by this Agreement according to the laws in force at the moment in which the specific issue to define is created, unless the context otherwise requires another interpretation or the competent authorities agree to a common meaning pursuant to the provisions of Article 6.

ARTICLE 4 EXCHANGE OF INFORMATION 1. OBJECT OF THE EXCHANGE The competent authorities of the Contracting Tax Administrations, according to the purpose of this Agreement, shall exchange information to administer and enforce their domestic laws concerning taxes administrated, including information for: a) The determination of the assessment and collection of such taxes, as well as, if applicable, the determination of the net worth variations, consumption or disposal of assets. b) The determination of the customs value. c) The recovery and enforcement of tax claims. d) The investigation or prosecution of alleged tax or customs crimes and violations involving the contravention of tax and customs law and regulations.

2. REGULAR OR AUTOMATIC INFORMATION The competent authorities of the Contracting Tax Administrations shall regularly or automatically transmit information to each other on: a) Transactions and/ or taxable, non-taxable or exempted income made or obtained in the territory of the States of the Contracting Tax Administrations, with regard to persons and taxes covered in this Agreement. b) General information on lines of economic activity. c) Information on the value to determine the truthfulness or accuracy of such. d) Any other information they may expressly agree. 3. SPONTANEOUS INFORMATION The competent authorities of the Contracting Tax Administrations shall spontaneously transmit information to each other, when during the course of their own activities, information which may be relevant to, and bear significantly on, accomplishment of the purposes referred to in paragraph 1 of this Article, may have come to the attention of one of them. 4. SPECIFIC INFORMATION The competent authority of the Requested Tax Administration shall provide information upon specific request by the competent authority of the Applicant Tax Administration for the purposes referred to in paragraph 1 of this Article. If the information available in the tax files of the Requested Tax Administrations is not sufficient to enable compliance with the request, that Tax Administration shall take all measures, allowed by its legislation, including compulsory measures, to provide the Applicant Tax Administration with the information requested, such as: a) examine any books, papers, records, or other personal property which may be relevant or material to such inquiry; b) question any person having knowledge or in possession, custody or control of information which may be relevant or material to such inquiry; c) compel, pursuant to its own legislation, any person having knowledge or in possession, custody or control of information which may be relevant or material to such inquiry, to appear at a stated time and place and testify under oath and produce books, papers, records, or other personal property. If a Contracting Tax Administration requests information, pursuant to this paragraph, the Requested Tax Administration shall obtain and provide the information in the same form, as if the tax of the Applicant Tax Administration were the tax of the Requested Tax Administration.

5. PROCEDURE The competent authorities shall determine the type of automatic information to be exchanged, as well as the form and procedures that shall be applied to carry on the exchanges of information referred to in paragraphs 2, 3 and 4 of this Article.

6. LIMITATION TO THE TRANSMISSION OF INFORMATION Under no circumstance the provisions in paragraph 1 of this Article shall be construed so as to impose on a Tax Administration the obligation: i. ii. to supply information, the disclosure of which would be contrary to public policy; to carry out administrative measures contrary to the respective laws or administrative practice of the State of the Applicant or Requested Contracting Tax Administration; to supply information which would not be obtained under its respective laws or within the scope of its usual administrative practice or those of the other Contracting Tax Administration, and to supply information requested by the Applicant Tax Administration to administer or enforce a provision of the tax law of the State of the Applicant Tax Administration, or any requirement connected therewith, which discriminates against a national of the State of the Requested Tax Administration.

iii.

iv.

7. REGULATIONS FOR EXECUTING THE REQUEST Except as provided in paragraph 5 of this Article, provisions of the preceding paragraphs shall be construed so as to impose on a Contracting Tax Administration the obligation to use all legal means and its best efforts to execute a request. The Requested Tax Administration shall act with due diligence, not exceeding to respond the term of six months as of the date of receipt of the request in the case of a specific exchange of information. Such term may be extended for two more additional months at the request of the Requested Tax Administration due to the difficulties that may arise at the execution of the diligence requested. In case of inability to comply with the term for responding, or difficulty for obtaining the information, the competent authority of the Requested Tax Administration must inform the competent authority of the Applicant Tax Administration, indicating the probable date on which the answer could be sent, the nature of the obstacles, as appropriate. Furthermore, when the Requested Tax Administration objects to provide the information requested, it shall communicate to the Applicant Tax Administration the reasons for objecting within 3 months.

8. USE OF THE INFORMATION RECEIVED Any information received by a Contracting Tax Administration shall be treated as secret in the same manner as information obtained under the domestic laws of the State of such Tax Administration, or according to the conditions of confidentiality applicable in the jurisdiction of the State providing it, if such conditions are more restrictive. The information shall be disclosed only to persons or authorities of the State of the Applicant Tax Administration, including judicial and administrative bodies, and the Public Ministry when investigating acts constituting crimes, involved in the determination, assessment, collection and administration of taxes under this Agreement, in the recovery of tax claims derived from such taxes, in the enforcement of the tax laws, in the prosecution of tax crimes, or in the determination of administrative appeals in relation to such taxes, as well as the oversight of the above. Such persons or authorities may use the information only for tax purposes and may disclose it in public court proceedings or in judicial decisions of the applicant State, in relation to such matters. Without prejudice of the previous paragraph, when it is a question of information relating to the value of goods in Customs, that information shall be treated according to the conditions of confidentiality understood in the Valuation Agreement of the World Trade Organization. 9. LEGAL VALIDITY OF THE INFORMATION OBTAINED The information obtained by the Applicant Tax Administration shall be valid provided that it is supplied by the competent authority of the Requested Tax Administration.

ARTICLE 5 SIMULTANEOUS EXAMINATION 1. OBJECT OF THE SIMULTANEOUS EXAMINATION For purposes of this Agreement, a simultaneous examination of taxes means an arrangement between the Contracting Tax Administrations to simultaneously examine, each in its own territory, the tax situation of a person or persons in which they have a common or related interest, with a view to exchanging any relevant information which they obtain in that way. 2. SELECTION OF CASES AND EXAMINATION PROCEDURES The competent authority of a Contracting Tax Administration may consult the other Contracting Tax Administration in order to determine the cases and procedures for simultaneous tax examinations. The consulted Contracting Tax Administration shall decide whether or not it wishes to participate in a specific simultaneous examination. Nevertheless, none of the Tax Administrations is obliged to cooperate with all the simultaneous examinations proposed by the other Tax Administration.

3. SELECTION OF THE SECTOR AND PERIOD TO BE EXAMINED The representatives appointed by the Tax Administrations in compliance with the provisions of paragraph 4 of this Article, by common agreement, shall determine the sector and period to be examined for the specific case selected. 4. ACCEPTANCE OF EXAMINATION Once the competent authority of a Contracting Tax Administration receives from the other Contracting Tax Administration a proposal for undertaking a simultaneous examination and decides to accept it, it shall provide its acceptance in writing, appointing a representative from his country for conducting the examination. After receiving the acceptance from the accepting competent authorities, the proposing competent authority shall also designate a representative, in writing. 5. INTERRUPTION OF A SIMULTANEOUS EXAMINATION If one of the two Tax Administrations concludes that a simultaneous examination cannot be carried out, it may withdraw from the examination by notifying its withdrawal to the other participating Tax Administration.

ARTICLE 6 MUTUAL AGREEMENT PROCEDURE 1. INTERPRETATION AND APPLICATION OF THE AGREEMENT The competent authorities of the Contracting Tax Administrations shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of this Agreement. In particular, the competent authorities may agree to a common meaning of a term. 2. DIRECT COMMUNICATION OF THE COMPETENT AUTHORITIES The competent authorities of the Contracting Tax Administrations may communicate with each other directly in order to carry out the provisions of this Agreement. For that purpose, the competent authorities may appoint an official, a service or an agency from their respective jurisdictions, as person or entity in charge of beginning the communications which are considered necessary for the due diligence of the procedures to achieve the object of this Agreement.

ARTICLE 7 COSTS 1. ORDINARY AND EXTRAORDINARY COSTS Unless the competent authorities of the Contracting Tax Administrations otherwise agree, ordinary costs incurred for the execution of this Agreement shall be borne by the Requested Tax Administration and extraordinary costs shall be borne by the Applicant Tax Administration. 2. DETERMINATION OF EXTRAORDINARY COSTS The competent authorities of the Contracting Tax Administrations shall determine by mutual agreement when a cost is extraordinary.

ARTICLE 8 ENTRY INTO FORCE This Agreement shall enter into force on the first day following the date of signature.

ARTICLE 9 TERMINATION AND AMENDMENTS 1. Any of the Contracting Tax Administrations may, at any time, terminate this Agreement through notice addressed to the other Contracting Tax Administration. 2. Such termination shall enter into force on the first day of the month following the expiration of a three-month period, after the date of receipt of the notice by the other Contracting Tax Administration. 3. This Agreement may be amended at any time by mutual agreement in writing. Done at the City of Amsterdam, the Netherlands, on the 7th day of October of 2004 in two originals in the Spanish languages, all texts being equally authentic. Memorandum of Agreement N 14/04 (AFIP) On behalf of AFIP: Alberto Abad Head of the Federal Administration of Public Revenues On behalf of SUNAT: Nahil Liliana Hirsh Carillo National Superintendent of the Tax Administration