Flag of Peru which joined Bolivia to form the Peru–Bolivian Confederation. The South was formed first, thus adopting a new flag: a red vertical band on the left, with a golden sun and four small stars above (representing Arequipa, Ayacucho, Cuzco and Puno, the four groups of the republic), and the right side divided into an upper green band and a lower white one. The North kept the currency and all ---- of the dissolved Peru, including its flag. The flag of the Peru-Bolivian Confederation showed the coats of arms of Bolivia, South and North Peru, from left to right and slanted at
Taxation in Peru also for investments in manufacturing industries located in the jungles, in designated tax-free zones and in borderline areas of the country. Furthermore, companies involved in certain economic sectors may be subject to special or reduced income tax rates (i.e. companies involved in agriculture, animal husbandry and similar activities are entitled to a 15% rate). Peru also has an income tax for individuals. Peruvian citizens domiciled in Peru are subject to taxation on their worldwide income. Individuals not domiciled in Peru are only taxed in this country on their Peruvian sourced income. Foreigners residing or staying in Peru for more than