Guatemala to promote "moderate" fiscal reform to raise tax revenues
The Government of Guatemala today announced its decision to bring in a "moderate" tax reform plan in hopes of achieving an 8-pont increase in tax revenues. The new revenues are to be used to combat poverty.
Wednesday, April 23, 2008
President Álvaro Colom said the proposal, which does not involve new taxes and which could be approved by Parliament this year, has as its goal "to attack poverty and strenghten the economic model" of the country.
The transformation of Guatemala's economy and its participation in global markets meand the nation's businesses can no longer think of competitive advantage as being solely "the cheapest labor." It's also important to consider delivery times, quality requirements, adaptation to the specific needs of clients, and other factors.
The consequences in Central America of the turblance in the world economy will be a decline in exports and remissions, and higher unemployment.
Guatemala's government is negotiating two programs for a total of US$600 million with the Inter-American Development Bank (IADB), President Álvaro Colom said.
Fundesa has released its monthly report of the main indicators of the national economy: inflation, oil, IMAE, external sector, exports, foreign exchange, and tax revenue.
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