EFTA01367154.pdf

Amendment #4 Page 725 of 868 able ie toi Begnnria in 2015, in attenton to Article 55 of Law No 30296, the tax rate applicable on the taxable income, after deducting the workers' profs sharing is as follows 2015 and 2016. 28 pacer/ 2017 and 2018. 27 percent. 2019 onwards 26 percent. Legal persons not domiciled m Peru and natural persons are sottect to retention of an additional tax on dvdends recewed In the ;egad and in attention to Law No. 30296, the actlsonal tax on dividends for ncome generated is as follows • 4 1 percent d the profits generated until December 31, 2014 • For the profits generated from 2015 onwards. whose Ostntuocn is node after that date. the percentages we be the rotating • 2015 and 2016- 6.8 percent • 2017 and 2018:8 percent • 2019 onwards 9.3 percent (b) For the purpose of determining the Income Tax and Value Added Tax NAT). the !reactor pricing agreed for transactions with reeled entities and with ccopenies dornicled in low or zero tax countries mat be upported by cbcurrerlatai contain% infermabon on the valuation methods applied and crdena used n the determination of such prices. On the bass of the analysts of the Company's operators. n the opinion of Management and its legal advsors. as corsequerce of the application of these regulations. there wit rot arise arty material consecperces for the Company as cf December 31, 2014 and 2013 (c) The Tax Autronty is levity ertRed to review and, 4 necessary, adjust We Income Tax computed by the Company during a term of four years fob:wing the year in Mach a tax rotten was reed. The Company's Interne Tax and VAT returns corresponding to the years 2010 to 2014 are open to examination Given the possible interpretations that the Tax &Monty may gate to the legislation in effect, up to date it is not possole to determine whether a rot any tax examination to be concluded would result in babbles for Me Company, dos, any increased tax or it:charge that may arise from possible tax examnattons would be applied 10 the income of tte penod in which such tax increase or surcharge may be determined In the opinion of Management and its legal advisors, any eventual additional tax settlement would not be sign/cant for tre f Asocial statements as of December 31, 2014 and 2013 (d) Asa December 31, 2014 and 2013, the Carom, presents tax losses amounting to Si 24,145,000 and Si 14056,000, resPectwelY Management we assess at the closing date of each year the evolution of market conditions and legslancn in effect in oider to deternne whether said asset must be recognize.] at some moment In accordance with the established by the Income Tax Act and its amendments, entities established in Peru are able to opt between the two following methods to carry forward their tax losses (I) The tax loss can be offset with Mae income until is I nal extender), by appeprg said loss unbl 50 percent of the taxable income. CM (ii) The tax less can be teed up until four years after being generated http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058682 CONFIDENTIAL SDNY_GM_00204866 EFTA01367154