A fiscal memorandum has been released by Tezó and Associates detailing tax obligations, and the payment schedule for September 2012.
October 13 to 12, 2012 Edition
Planning Tax Obligations
The planning of tax liabilities for taxpayer, should be conducted in conjunction with the preparation of budgets and be concrete before the start of each year. However, we are in October and there is still a valid payment plan for some of these tax obligations. Therefore, we consider it appropriate to review the compliance of certain taxes, budgeting for what we could end up paying out at the end of this reporting period.
A memorandum by Tezó y Asociados Tezó has been released detailing who should pay ISO 2012, and the bond payment schedule for August 2012.
Tax Memo Edition 10 -12
Who should pay for ISO 2012?
As we develop our Tax Memo No.10-12, there is uncertainty about the ISO exemption for taxpayers enrolled in the General Income Tax scheme. Indeed, subsection f) of Article 4 of the Solidarity Tax Act provides that exempt from ISO tax payments are those taxpayers who pay income tax at a rate on their taxable income, as provided in Article 44 of the Act Income Tax-ISR. This rule was amended by Article 178 of Decree No. 10-2012 in Book I which contains the new Income Tax Law which will be effective from January 1, 2013.
The government included a tax for mobile phone calls in the tax reform project.
With this tribute, phone calls between different carriers will pay an additional $0.02 per minute.
"Currently, Guatemala has some of the lowest mobile telephony fees in Latin America, and the service has grown at fast pace in the country, reaching 14 million users, or one cellphone per inhabitant. Some fear that this initiative will make the service less affordable", reported Elperiodico.com.gt.
Chicas Vilchez & Ruiz is a professional finance and accounting firm providing Auditing, Consulting, Outsourcing, and Tax services in El Salvador, Central America and the United States.
Operates in El Salvador, Costa Rica, Guatemala, Panama, Honduras and Nicaragua
Phone: (503) 2264 8069