The presidents of business chambers of Guatemala met on Wednesday with President Otto Perez and Finance Minister Pavel Centeno, to hear a proposal for tax reform law, and adopted a positive approach to the coming changes.

After the meeting, Marco Augusto Garcia Noriega, president of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial sectors (Cacif) stated that it is a well-integrated project and didn’t rule out coming to a consensus "very soon" reports elPeriódico. com.gt.

"We must all do our part... taxes are not just for business owners," said Garcia.

The proposed tax update includes a new Income Tax (ISR) which eliminates the deductions from VAT and modifications to the general and optional regimes, and also reforms the Vehicle Circulation Tax (ISCV).

Source: elperiodico.com.gt

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