Given the information that is circulating in the media and social networks about a tax debt, Compania de Minas Buenaventura reports the following.

Buenaventura is a company that rigorously complies with the payment of its taxes and denies that it has tax debts of more than two billion soles, as has been speculated. What exists is a controversy with SUNAT that is in process before the Fiscal Court and the Judicial Power.

This tax controversy originated between 2007 and 2008 when Buenaventura modified the modality of sale of gold with its clients, from fixed prices to variable prices. This operation meant a significant expense that affected the results of the company and, therefore, also affected the Income Tax to be paid in those periods. However, in the following years it represented favorable results for the company, on which the Income Tax was paid and the tax collection was contributed.

Despite this, SUNAT subsequently intends that the Income Tax be paid without recognizing the cost of the aforementioned operations. It is necessary to explain that, initially, the amount of the controversy was 373 million soles, but that, according to SUNAT, with penalties and interest it would amount to 2,083 million soles.

We must point out that these payments were made as established by the tax laws, so trying to impose new obligations or apply subsequent regulations to generate an alleged debt is not only a mistake, but a negative signal for the mining investment that assumes the risks of international market and is one of the engines of our economy.

According to the above, Buenaventura rules out that it has committed tax infractions and invokes the transparent and responsible management of information in favor of the stability of our country.

Compania de Minas Buenaventura reaffirms its commitment to continue contributing to Peru's growth with investments in eight regions, the generation of 12 thousand jobs, and the development of formal and responsible mining.

Contact:

Diego Uceda Noguerol

Tel: (511) 419 2500

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