Guatemala: Tax Controls Tightened

Extraordinary measures announced by the tax authorities will focus on reviewing withholding tax, declarations and verification of income tax.

Thursday, May 15, 2014

Verification of statements of withholding agents, recalculation of retention for taxpayers with incomes over $3.886, monitoring omissions and frequent verification of cases of taxpayers of the higher tax interest, are part of the measures to be applied to the deficit of $87 million resulting from the last collection period.

"The Municipality of Supervisors will give support in the form of audits to verify why costs and expenses reported in the quarterly payments are greater than the income of the taxpayer ... cross referencing will be carried out using details of the withholding tax and VAT, checking capital income in buildings zones 10 and 14 to ensure that rents are being paid ... Through the Legal Intendency support to the judiciary support will be requested so that the closure of companies is verified. "

Prensalibre.com also reported that "audits will be carried out in free zones and maquilas that make use of preferential tariff treatments in the nationalization of products ... They will visit 22 free trade zones, bonded warehouses, and 38 customs storage facilities, among other places."

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