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TAX SITUATION (Tables)
 12 Months Ended
Dec. 31, 2023
TAX SITUATION [Abstract]  
Reconciliation Between the Statutory Income Tax Rate and Effective Tax Rate
The reconciliation of the statutory income tax rate to the effective tax rate for the Group is as follows:
   
2023
    
2022
    
2021
  
   
In millions
    
%
    
In millions
    
%
    
In millions
    
%
  
                                     
Theoretical tax and income tax rate in Perú
    
(2,040.9
)
    
(29.50
)
    
(2,022.5
)
    
(29.50
)
    
(1,573.2
)
    
(29.50
)
Decrease (Increase) in the statutory tax rate due to:
                                                
(i) Decrease (Increase) due to the profit of subsidiaries not domiciled in Perú
    
52.8
      
0.77
      
(75.8
)
    
(1.11
)
    
(12.8
)
    
(0.24
)
(ii) Provision tax on dividends
   
(235.7
)
    
(3.44
)
    
(168.4
)
    
(2.46
)
    
(78.6
)
    
(1.47
)
(iii) Non-taxable income, net
    
335.3
      
4.59
      
156.2
      
2.29
      
3.6
      
0.06
  
Income tax and effective income tax rate
    
(1,888.5
)
    
(27.58
)
    
(2,110.5
)
    
(30.78
)
    
(1,661.0
)
    
(31.15
)
Income Tax Expenses

b)
Income tax expense for the years ended December 31, 2023, 2022 and 2021 comprises:

   
2023
    
2022
    
2021
  
     
S/(000)

   
S/(000)

   
S/(000)

Current -
                        
In Perú
    
1,669,370
      
1,799,467
      
945,937
  
In other countries
    
295,169
      
197,971
      
167,657
  
     
1,964,539
      
1,997,438
      
1,113,594
  
                         
Deferred -
                        
In Perú
    
(28,734
)
    
37,447
      
548,920
  
In other countries
    
(47,354
)
    
75,616
      
(1,527
)
     
(76,088
)
    
113,063
      
547,393
  
Total
    
1,888,451
      
2,110,501
      
1,660,987
  
Deferred Income Tax

c)
The following table presents a summary of the Group’s deferred income tax:

             
   
2023
    
2022
  
     
S/(000)

   
S/(000)

Deferred income tax asset, net
                
Deferred asset
                
Allowance for loan losses for loan portfolio
    
1,023,000
      
1,108,687
  
Provision for profit sharing
    
70,908
      
73,402
  
Provision for sundry expenses and risks
    
59,984
      
35,393
  
Carry forward tax losses
    
63,668
      
50,675
  
Provision for pending vacations
    
32,370
      
31,724
  
Depreciation of improvements for leased premises
    
20,436
      
23,762
  
Unrealized losses due to valuation of investments at fair value through other comprehensive income
    
5,837
      
5,160
  
Provision of Stock awards
    
13,821
      
45,510
  
Unrealized losses due to valuation of investments at fair value through other comprehensive income
    
39,364
      
71,214
  
Unrealized gain from valuation of fair value hedging derivatives
     –       8,246  
Others
    
209,491
      
120,239
  
                 
Deferred liability
                
Intangibles, net
    
(176,271
)
    
(253,696
)
Adjustment for difference in exchange of Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT) and SBS
    
(45,016
)
    
(61,858
)
Buildings depreciation
    
(63,839
)
    
(64,462
)
Deferred acquisitions costs
   
(16,070
)
    
(16,537
)
Unrealized gain due to valuation of investments at fair value through other comprehensive income
    
(3,743
)
    
(1,099
)
Buildings revaluation
    
(2,552
)
    
(3,113
)
Unrealized gain in valuation on cash flow hedge derivatives
    
(804
)
    
(5,262
)
Others
    
(48,389
)
    
(33,238
)
Total
    
1,182,195
      
1,134,747
  

   
2023
    
2022
  
     
S/(000)

   
S/(000)

Deferred income tax liability, net
                
Deferred asset
                
Provision for sundry expenses and risks
    
12,395
      
21,192
  
Carry forward tax losses
    
19,757
      
19,757
  
Unrealized losses due to valuation of investments at fair value through other comprehensive income
    
8,731
      
41,146
  
Provision for workers profit sharing
    
17,897
      
12,911
  
Deferred income from commissions on remuneration
    
5,274
      
4,992
  
Others
    
8,674
   
10,270
  
 
                
Deferred liability
                
Intangibles, net
    
(36,569
)
    
(37,315
)
Gain generated in the reorganization of Pacífico EPS
    
(39,515
)
    
(39,515
)
Deferred acquisitions costs
   
(8,186
)
    
(22,991
)
Unrealized gain due to valuation of investments at fair value through other comprehensive income
    
(13,846
)
    
(10,716
)
Reserve for reinstatement premium costs and deductibles
    
(10,942
)
    
(11,251
)
Leasing operations related to loans
    
(3,038
)
    
(3,224
)
Buildings revaluation
    
(3,296
)
    
(3,296
)
Others
    
(64,853
)
    
(56,965
)
Total
    
(107,517
)
    
(75,005
)
Income Tax Returns of Major Subsidiaries Open for Examination by Tax Authorities

d)
The Peruvian Tax Authority has the right to review and, if necessary, amend the annual income tax returns filed by Peruvian subsidiaries up to four years after their filing date. Income tax returns of the major subsidiaries open for examination by the tax authorities are as follows:

Banco de Crédito del Perú S.A.
   
2016, 2017, 2020 to 2023
 
Mibanco
   
2018, 2021 to 2023
 
Pacífico Compañía de Seguros y Reaseguros
    
2018 to 2023
 
Credicorp Capital Servicios Financieros
    
2018 to 2023
 
Credicorp Capital Perú
    
2018 to 2023
 
Credicorp Capital Holding Perú S.A.A.     2018 to 2023  
Grupo Credito     2018 to 2023  
Income Tax Returns of Major Subsidiaries Auditing the Sworn Declaration by Tax Authorities
It is worth mentioning that the Tax Authority is auditing the sworn declaration of:

Banco de Crédito del Perú
2019
Mibanco
2021
Grupo Crédito
2017
Annual Income Tax Declarations Pending Examination by the Overseas Tax Authorities
The Bolivian, Chilean and Colombian Tax Authorities have the power to review and, if applicable, make a new determination for the income tax the subsidiaries to Credicorp located in said countries, upon presentation of their Income Tax declarations. Additionally, in the case of Colombia, a period of 6 years was established for the taxpayers obliged to apply Transfer Prices or taxpayers who report tax losses. The annual income tax declarations pending examination by the overseas tax authorities are the following:
Banco de Crédito de Bolivia
2015 to 2023
Credicorp Capital Colombia
 2017 to 2023
Mibanco Colombia
2019 to 2023