Lima, 19 May 2025

S.B.S. Resolution No. 01803-2025

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

WHEREAS:

That, through Law No. 30608, the Municipal Savings and Credit Banks (CMAC) were incorporated into the scope of Law No. 29230 and its amendments, the Law that promotes regional and local public investment with private sector participation;

That, through SBS Resolution No. 1706-2018 and its amendments, the Regulation on the participation of Municipal Savings and Credit Banks in the Law that promotes regional and local public investment with private sector participation was approved, with the purpose of establishing prudential requirements and criteria for the participation of CMACs in public investment projects under Law No. 29230 and its amendments;

That, through Law No. 31735, Law No. 29230 was amended to provide that the Regional and Local Public Investment Certificates and the National Government Public Investment Certificates may be applied to the payment of any tax whose collection constitutes income of the Public Treasury and is administered by SUNAT; as well as to establish that said certificates may be used up to a maximum percentage of eighty percent (80%) of the income tax calculated in the Annual Income Tax Return corresponding to the previous fiscal year filed with SUNAT, among other aspects;

That, through Supreme Decree No. 011-2024-EF, the Regulation of Law No. 29230, approved by Supreme Decree No. 210-2022-EF, was amended in order to adapt it to the provisions established by Law No. 31735;

That, it is necessary to amend the Regulation on the participation of Municipal Savings and Credit Banks in the Law that promotes regional and local public investment with private sector participation, in order to align it with the provisions established in Law No. 31735 and in Supreme Decree No. 011-2024-EF;

That, in order to gather the opinions of the general public, the publication of the draft regulation was ordered through SBS Resolution No. 00773-2025, in the newspaper

official El Peruano and on the Superintendency's digital headquarters, in accordance with the provisions of the Thirty-Second Final and Complementary Provision of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance – Law No. 26702 and its amending norms (hereinafter, General Law), as well as in Supreme Decree No. 009-2024-JUS;

With the approval of the Deputy Superintendencies of Banking and Microfinance and of Regulation and Legal Affairs; and,

In use of the powers conferred by numerals 7 and 9 of article 349 of the General Law;

RESOLVES:

Article One.– Amend the Regulation on the Participation of Municipal Savings and Credit Banks in the Law that promotes regional and local public investment with private sector participation, approved by SBS Resolution No. 1706-2018 and its amendments, in accordance with the following:

1. Replace numerals 2 and 7 of article 2, in accordance with the following:

“Article 2.- Definitions

For the purposes of the provisions of this regulation, consider the following definitions:

(…)

‘2. Certificate: Regional and local public investment certificate (CIPRL) or national government public investment certificate (CIPGN), as applicable. Said certificates are used in accordance with the provisions of the Law that promotes regional and local public investment with private sector participation, Law No. 29230 and its amendments.

(…)

7. Works for Taxes Mechanism: Mechanism referred to in Law No. 29230 and its amendments.”

2. Replace letter b) of article 4, in accordance with the following:

“Article 4.- Responsibility of Management

Management is responsible for:

(…)

b) Permanently monitor the execution, degree of progress and amount of the work, which must be reported quarterly to the Board of Directors, unless there is a relevant event that warrants reporting at a shorter frequency.

(…)”

3. Replace paragraphs 6.1 and 6.3 of article 6, in accordance with the following:

“Article 6.- Requirement of capitalization of profits and limit to participation in the works for taxes mechanism

6.1 The CMAC must reasonably ensure that the maximum amount of the total investment for the
execution of the selected work is determined as a percentage of the income tax corresponding to the previous fiscal year, which varies depending on the percentage of capitalization of profits of the fiscal year prior to the date of presentation of the report referred to in article 7 of this Regulation, in accordance with the following:

Maximum amount of the work: X * income tax of the previous fiscal year according to the Annual Income Tax Return filed with SUNAT

Where X = 0.8 * (percentage of capitalization of profits of the fiscal year prior to the date of presentation of the report referred to in article 7 of this Regulation) 2

(…)

6.3 The CMAC may apply the certificates obtained in accordance with the provisions of Law No. 29230 and its amendments.

(…).”

Article Two.- This Resolution enters into force as of the day following its publication in the official newspaper El Peruano.

.

Register, communicate and publish,

SERGIO JAVIER ESPINOSA CHIROQUE
SUPERINTENDENT OF BANKING, INSURANCE AND AFP