Economic informality remains a critical challenge in Latin America, affecting both sustainable development and tax equity. This study analyzes the relationship between tax culture and willingness to formalize among traders in Peru’s main wholesale food market. Using a quantitative, non-experimental, correlational and cross-sectional approach, 300 traders were surveyed using an expert-validated questionnaire with tested reliability (Cronbach’s alpha of 0.87 for tax culture and 0.83 for formalization). The findings show a significant positive correlation (rs = 0.914, p < 0.01) between tax culture and the probability of formalization. The dimensions of tax knowledge (rs = 0.681), tax awareness (rs = 0.701), and tax compliance (rs = 0.745) were also positively associated with the inclination to formalize. While 44.3% of respondents acknowledged that access to tax information strengthened their tax culture, only 30.3% claimed to regularly comply with their tax obligations. The study concludes that promoting formalization requires educational initiatives and public policies that strengthen the tax culture, simplify procedures and build institutional trust. It also highlights the need to integrate effective state and local tax systems and to develop legislation aligned with the realities of local government, thus promoting the inclusion of taxpayers in the tax system.