The Ministry of Economy and Finance (MEF) published today Supreme Decree No. 014-2024-EF which provides, exceptionally, that the update of the fixed amount for the Selective Consumption Tax (ISC) applicable to beer be carried out in two sections in March and July.
On January 31, 2024, the MEF updated the fixed amounts for the ISC applicable to cigarettes, reheated tobacco and alcoholic beverages that will apply from March. With the provision published today, in the case of beer, the update of S/ 0.20 will be carried out gradually, starting on March 1, S/ 0.10, moving the ISC from S/ 2.31 to S/. 2.41; Then, as of July 1, the following will be S/ 0.10, increasing the ISC from S/ 2.41 to S/ 2.51, thus reaching the update of the fixed amount provided.
It is important to emphasize that this rule does not imply a new update, but is only the gradual and exceptional application of the update of the fixed amount of the ISC to beers published with Ministerial Resolution No. 030-2024-EF/15 in January 2024, so it should not have any effect on the period to be considered for the next update of the fixed amount of the ISC on beers.
The Minister of Economy and Finance, José Arista Arbildo, pointed out that the update of the specific ISC will not affect the recovery of the economy. He explained that this tax has not been updated for two years, and the fixed amounts of the ISC have increased in value as a result of inflation. “Therefore, the update is necessary to recover the tax burden lost due to the increase in prices of the affected products,” he stated.
| Effect of the update on ISC collection | ||
| Products | ISC actual | updated ISC 1/ |
| Beer (S/ per liter) | 2,31 | 2,41 |
| 2,51 2/ | ||
| Cigarettes (S/ per stick) | 0,36 | 0,37 |
| PTC (S/ per unit) | 0,30 | 0,31 |
| Pisco (S/ per liter) | 2,27 | 2,48 |
| Drinks with 0 degrees to 6 degrees of alcohol (S/ per liter) | 1,25 | 1,33 |
| Drinks with 6 to 12 degrees of alcohol (S/ per liter) | 2,50 | 2,68 |
| Drinks with 12 degrees to 20 degrees of alcohol (S/ per liter) | 2,70 | 2,89 |
| Drinks 20+ degrees of alcohol (S/ per liter) | 3,63 | 3,97 |
1/ Starting March 1st
2/ Starting July 1st
The ISC, in addition to its collection function, plays a dissuasive role in consumer behavior, applying a fixed amount in soles for each unit of product. This amount is updated annually if the price of the product experiences a variation of more than 1% compared to the previous year.
During 2023, the update was postponed due to the complex context that companies and consumers faced. For 2024, this update will be resumed using the methodology established in 2020 through Ministerial Resolution No. 034-2020-EF/15.
The variation experienced in the fixed amount of the ISC for these products, in terms of price variation, does not turn out to be significant. Likewise, the producer can decide whether to assume the impact of the ISC update, or pass it on to the final consumer.
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– 2024-05-05 09:47:03
