Peru Antonio José de Sucre they defeated the larger Spanish army in the Battle of Junín on 6 August 1824 and the decisive Battle of Ayacucho on 9 December of the same year, consolidating the independence of Peru and Alto Peru. Alto Peru was later established as Bolivia. During the early years of the Republic, endemic struggles for power between military leaders caused political instability. From the 1840s to the 1860s, Peru enjoyed a period of stability under the presidency of Ramón Castilla, through increased state revenues from guano exports. However, by the 1870s, these resources had been depleted, the country
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