EFTA01367113.pdf

Amendment #4 Page 684 of 868 TA!! iff.c54 on, Company by S/6209,413 through captalization of credits by he majority stereholder. As d today slat increase ate pending to to subscribed and insacted at the Public Regetry The General Shareholders' Meeting held on Septernter 12, 2013, agreed to contribute additional captal to Me Company try S/ 511967 through con/ribbons in cash by the majonty sharehokier 14. Tax situation (a) the Company is subject to the Penmen tax •gelation As of December 31, 2014 aid 2013 Me statutory Income Tax rate was 30 percent on the taxable income after deducting the workers' ode chant° which is calculated with a 5 percent rate on the taxable income Regalrg in 2015, In attenton to Anode 55 of Law No 30296, the tax rate applicable on die taxable income, after deducting the workers' profit shanng, is es follows • 2015 and 2018 28 percent • 2017 and 2018 27 percent • 2019 onwards 26 percent. Legal persons riot domiciled ri Peru and natural persons are sublect to retention of an additional tax on dvidends recented In the regard and in attention to Law No 30296, the additional taxon dividends for generated income is as follows • 41 percent or the profits generated until December 31. 2014 • For the crofts generated from 2015 onwards. vitose dstnbutico is made after that date. the percentages we be the Wowing • 2015 and 2016 6.8 percent • 2017 and 2018.8 percent • 2019 onwards 9.3 percent (b) For the purpose of aetermining the Income Tax and Value Added Tax (VAT). the transfer arcing agreed for transactions with reeled entities and with companies dornicied in counthes considered tax revens. prices should be supported by documentation collaring inforrnaton on the valuation methods applied and aitena used n its determinaton Based in an analysis of the Company s operators. n the opinion of Management and its legal advisors. as corsequerce of the application of these reg.:atone there vnl rot anse any matenal consequences for the Company as of De:ember 31, 2014 and 2013 (c) The Tax Authanty es legally entitled to review and, d necessary. adjust the Income Tax and Value Added Tax (VAT) and VAT computed by the Company during a term of four years blowing the year in which a tax retifin was fled. The Company's hoome Tax and VAT returns conespcncing to the years 2010 to 2014 are open to examination. Gwen the possible interpetations that de Tax Atthonty may Ave lo the legislation in effect up to date a is not castle to determine whether or rot any tax examination to be conductedwould result in liablites for Me Company, thus any increased tax or surcharge that may anse from possible tax examnationswould be applied to the income of the period n which such tax increase or surcharge may be determined. In the option of Management and its *gal advisors, any enenhal ackblonal tax settlement would rot be significant for the thence' statements as of December 31.2014 and 2013. F.364 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-0058641 CONFIDENTIAL SDNY_GM_00204825 EFTA01367113