In a publication made on December 30, 2010, in the Official Newspaper, the Government Agreement No. 388-2010 of the Ministry of Labour and Social Welfare, establishes the new minimum wages for agricultural activities, and for non-farming export activities ruled by Decree No. 29-89, effective January 1st, 2011.
The Ministry of Labor established that the monthly salary is determined by multiplying the daily wage for 365 days and then divided by 12 months.
Under the agreement, the minimum wage order is to have a greater number of workers earn wages which are higher than those fixed by this Agreement; therefore, the executive encourages companies to adopt better systems of remuneration so workers can have a better life. Employers are encouraged to seek and implement in their work competitive methods of remuneration and improve the income of their workers.
To ensure labor contracts for the country under the principles of social justice through decent employment generation and complying with international commitments made by the State of Guatemala and the Worker and Employer organized sectors, the Ministry of Labor and Social Welfare will coordinate actions with the Technical Institute for Training and Productivity - INTECAP, so that within the framework of its legal powers provide it can provide advisory services required by companies interested in implementing formulas to pay workers.
The bonus incentive created by Decree No. 78-89, as amended, is independent of the minimum wages herein.
It must be remembered that in case of doubt about the scope and interpretation of this Agreement, the rule in Article 106 of the Constitution, in the sense that workers are always favored, will be applied.
Detail on the ruling by the Constitutional Court regarding the deductibility of contributions to pension funds, and the February 2011 Tax Calendar.
On January 24, 2011, it was published in the Diario de Centro America, the ruling of the Constitutional Court regarding the unconstitutionality of the provision issued by the Superintendent of Tax Administration, Rudy Baldemar Villeda Vanegas, of not accepting the contributions made by customers of the Pension Fund for Retirement as a deduction in the process of determining the income tax in the year 2010.
Items to be taken into account to carry out an annual transaction study between related companies.
Currently, several countries have existing legislation on transfer prices. The legislation regulates the elements that should be available to carry out an annual survey of transactions between related companies, as well as indicators serving as basis for determining if transfer pricing between related parties are within legal parameters.
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The Universidad de San Carlos de Guatemala (USAC, University of San Carlos of Guatemala) was one of the earliest universities to be founded in the Americas. It was decreed a university on January 31, 1676 by royal command of King Charles II of Spain. It had previously been known as the Escuela de Santo Tomás (School of Saint Thomas), founded in 1562 by the priest Francisco Marroquín. The University finally gained international acceptance by Official Decree from Pope Innocent XI, on June 18, 1687.
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