Credicorp Pays $1.6 Billion to SUNAT Amid Tax Dispute

Credicorp Ltd. has paid around S/ 1.6 billion to settle a tax dispute with Peru's tax authority, SUNAT. The company plans to legally challenge the tax resolutions and considers the financial contingency remote. Credicorp is committed to regulatory and tax compliance and will continue its normal operations despite the legal proceedings.

Credicorp Ltd., a leading financial services holding company based in Peru, has announced the cancellation of approximately S/ 1.6 billion (approximately $451.9 million USD) in tax assessments and fines issued by the Peruvian Tax Authority (SUNAT). The company made this announcement on August 14, 2025, following the issuance of the resolutions on June 27, 2025 [1].

The cancellation of the tax assessments and fines resolves any potential misperception of outstanding obligations to the Peruvian State. Credicorp has not altered its position on the merits of the case and continues to challenge the resolutions through legal channels. The company maintains that the contingency is remote and has not made any expense provisions related to this matter [2].

Credicorp operates across Peru, Chile, Colombia, Bolivia, Panama, and the United States, with over 36,000 employees. The company's diversified business portfolio includes Universal Banking, Microfinance, Insurance & Pension Funds, and Investment Management & Advisory services. Despite the ongoing dispute, Credicorp remains committed to full regulatory and tax compliance and safeguarding the interests of its employees, clients, and shareholders [3].

References:
[1] https://www.marketscreener.com/news/credicorp-ltd-updates-on-tax-dispute-with-superintendencia-nacional-de-aduanas-y-de-administraci-n-ce7c51d9da8ef521
[2] https://www.ainvest.com/news/credicorp-451-9-million-peruvian-tax-fine-resolutions-cancelled-2508/
[3] https://www.stocktitan.net/news/BAP/credicorp-ltd-credicorp-ltd-updates-on-tax-dispute-with-vbssl1gpf5b9.html