Estrategias de cobertura con instrumentos financieros derivados: análisis de su tratamiento fiscal en el Perú (Sección Abierta)

This article analyzes the tax effects of using financial derivatives (FDs) as hedging instruments in Peruvian companies, with special attention to the mining and agro-export sectors, which face high exposure to financial risks. A qualitative methodology is employed, based on a documentary analysis of the Peruvian Income Tax Law (LIR), rulings issued by the National Superintendence of Tax Administration (SUNAT), case law from the Tax Court, and specialized doctrine, contrasted with the provisions of IFRS 9. The findings reveal a clear asymmetry between accounting standards and the tax regime: while IFRS 9 allows hedge accounting under verifiable technical criteria, the LIR imposes additional requirements—such as independence between contracting parties, precise identification of the covered risk, and exhaustive documentation—that create legal uncertainty and increase compliance burdens. This misalignment restricts the efficient use of financial derivatives and particularly affects companies highly exposed to international risks. The study concludes that aligning tax rules with accounting standards is necessary to provide greater clarity, predictability, and legal certainty for taxpayers.