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
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.
Guatemala's proposed new tax regime will put pressure on companies to keep much stricter accounts.
Interest earned on capital invested abroad will not accrue income tax.
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 period for presented audited financial statements and the income declaration (ISR) expires on March 31 for all registered taxpayers.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar