Finances of political campaignsAt this moment, the conditions of campaign funding are defined by the 2003 Electoral Law. Before this law came into action, the funding of political campaigns was largely unregulated. Peruvian political parties are funded from two sources: public and private. The state provides each political party represented in Congress with funding from the budget in amount of 0.1% of Unidad Impositiva Tributaria (PER 3.8=USD 1.35 for 2014) per each vote that the party obtained during the latest elections. Of all state funding, 40% is distributed evenly between all political parties represented in the Congress, and 60% is distributed in proportional fashion. The political parties also can receive private funding from a variety of sources, such as membership fees, funds obtained through direct activities undertaken by the party, benefits from properties, income from other sources authorized by law and many kinds of donations. Examples of prohibited sources of funding include any religious donations and most types of transactions from other countries. A political party can receive private funding from any number of physical or legal persons; however, the maximal contribution of each of those persons cannot exceed 60 UID (about USD 80,000) per year. All private funding contributions need to be written in an accounting book that is periodically checked by JNE.
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