This is from the SUNAT site - run through google translate because I'm too lazy right now to translate it out myself. The stuff with the double ** after it are things that were just recently updated this year.
I've bolded the stuff that might apply to you. And it is per person, assuming your kids aren't babies or toddlers.
Note (y), which can apply to just about anything that doesn't fit any other listing - It doesn't say it there, but when I heard them talking on the news they said that the total was $500, but that no single item could be valued more than $200.
Article 4 .- It is unaffected by payment of taxes into the country the following items considered as baggage: (in other words, no customs charges on the following when they're in your baggage)
a) clothing and ornaments, the traveler's personal use (*).
b) Objects toilet for use by travelers.
c) Medication for personal use of travelers. (*)
d) One (1) unit or one (1) sport set for traveler's personal use (*).
e) Books, magazines and printed documents are noticed in general that the traveler's personal use.
f) Suitcases, bags and other containers commonly used containing the objects that constitute the traveler's baggage.
g) Objects statements contained in the Declaration of Temporary output according to the provisions of article 33 or stating that they are national or nationalized provided they constitute baggage and presumed that their numbers are not for trade.
h) A (01) portable appliance hair and commuter use .(**)
i) One (1) electric shaver or epilator for use by travelers.
j) One (1) musical instrument 0 wind or string, portable.
k) One (1) broadcast receiver, or one (1) audio player recorder, or one (1) team which together contain them, whenever portable with its own energy source and not a type professional.
l) A maximum in set of twenty (20) CD .(**)m) One (1) camera or digital camera.
n) One (1) camcorder, whenever portable with its own energy source and non-professional type.
o) One (1) portable device digital video discs.
p) One (1) VCR, residential, portable electronic game.
q) Up to ten (10) rolls of film, one (01) external hard drive for computer, two (2) memories for digital camera, camcorder and / or video game, only if you carry these devices, two (02) USB ( pen drive), ten (10) cassettes for camcorder laptop, and ten (10) digital video disc or video game. (**)
r) One (1) handheld PDA or electronic tablet. (**)
s) A (1) laptop, with its own energy source.
t) Two (02) mobile phones. (**)
u) Up to twenty (20) packs of cigarettes or fifty (50) cigars or two hundred fifty (250) grams of chopped or shredded snuff smoking.
v) Up to three (3) liters of liquor.
w) Medical aids and equipment for medical monitoring and mobilization (wheelchair, stretcher, crutches, blood pressure gauges, temperature and glucose, among others) to carry passengers with disabilities or ill.
x) One (1) live pet as a pet, which must be submitted in advance to comply with relevant health regulations.
y) Other goods for use or consumption of the traveler and gifts than their quantity, nature or variety is presumed not intended to trade for a combined value of five hundred dollars of the United States of America (U.S. $ 500.00) .(**)z) A (01) portable electronic calculator. (**)
If you want to see it all in Spanish for yourself, http://www.sunat.gob.pe/legislacion/pro ... -00.06.htm