New law in Guatemala to govern income tax, rates and controls

The Executive Branch of government has proposed a lengthy new income tax law.

Tuesday, June 17, 2008


©image:

Under the proposal, the changes to the income tax structure would affect the general income tax, optional taxes and local taxes. It would create levies on dividends from capital and new limits on deductible expenses.
If Congress passes the bill, the new taxes would be introduced gradually between 2009 and 2012.

More on this topic

Guatemala aims to tighten up on taxes

July 2008

Guatemala's proposed new tax regime will put pressure on companies to keep much stricter accounts.

Companies that pay 31 percent of net profits (the proposal describes this as the "profits from lucrative activities regime") could face serious problems if they incur in shoddy book-keeping.

Global Income Still Tax Free in Costa Rica

June 2011

Interest earned on capital invested abroad will not accrue income tax.

The possibility of collecting this tax, as has been requested by some members of the opposition in Congress, will not become reality because it has not been considered in the tax reform presented by the government, and has even been dropped by the faction who originally made the request.

Guatemala Puts Finishing Touches on Tax Reform

January 2012

Among other measures, the bill proposed by the government examines establishing regimes for income tax and eliminating accreditation for VAT returns, a method that has encouraged evasion.

The new Guatemalan government has refined its proposed fiscal law reform, which includes proposals such as removing the accreditation of the VAT tax and setting different levels for the deduction of income tax.

New Income Tax law comes into effect in Guatemala

January 2009

The period for presented audited financial statements and the income declaration (ISR) expires on March 31 for all registered taxpayers.

According to prensalibre.com, "the law, in effect since the start of the year, covers the 2008 fiscal year.

According to Abelardo Medina, head of operations at SAT, there are proposals for reforming these requirements and to required audited statements only from special contributors; however, these were not approved by Congress hence until the modification are approved, the procedure will be applied to all taxpayers (at a rate of 31%)."

 close (x)

Receive more news about Government

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


New house for sale at Costa Rica beach in Punta Leona Resort

Live at the beach in the exclusive Punta Leona Resort, a dream with shaded white sand beach, pools, restaurants, wild life. New affordable, energy efficient home.
The house - possibly the only energy efficient green...

Stock Indexes

(Dec 9)
Dow Jones
0.72%
S&P 500
0.59%
Nasdaq
0.50%

Commodities

(Dec 9)
Brent Crude Oil
55.06
Coffee "C"
139.35
Gold
1,160
Silver
16.900