The first months of 2014 show that the industry is recovering from the decline in sales in 2012/2013 caused by the entry into force of the first registration tax.
An article in Prensalibre.com reports that José Javier Casas, general maanger of Cofino Stahl and president of the Union of Motor Vehicle Importers (Aidva) noted that "... In 2013 25,789 units were sold, in 2012 27,028 were sold; however, we predict that this year will close with an increase of 10%. According to Casas, this would mean about 30 thousand units being sold. Is expected that this will be achieved in the medium term and that they will beat the record of 2007, when 36,000 new cars were sold. "
The suits citing unconstitutionality presented in Guatemala against the tax reform have caused irrecoverable losses to government coffers.
The head of Collection at tax authority SAT said that " the reform does not only include income tax (ISR)" and noted that the Constitutional Court (CC), among other resolutions, suspended the collection of a 5% tax on the first registration of tractors (Iprima).
Guild members of the Chamber of Industries are in favor of requesting a revision to the current tax reform which came into effect on January first.
The chamber’s president, Andres Castillo said that "some union members" have identified several deficiencies in the tax reform approved by Decree 10-2012, Tax Law Update. "Most of all there is a lack of information and lack of criteria for how authorities will be enforcing this law."
The Constitutional Court of Guatemala has takem up a law suit filed by the Union of Importers of Machinery and suspended the collection of the ‘Iprima ‘ for agricultural and construction tractors.
The constitutional motion was filed stating that tractors are considered as working capital, and that the first registration tax (Iprima), which is set at 5%, is contrary to supporting the productivity established by the Constitution.
Guatemalan importers of used vehicles are contemplating filling a lawsuit, based on the inconstitutionality, against the First Registration Tax (known as Iprima) which came into force since on July 1st 2012.
Claiming that the tax is inequitable, in the course of this week the Union of Used Vehicle Importers, expects to file an appeal against three paragraphs of Article 109 of the Iprima Act.
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