Aceros de Guatemala Pays $103 million to Treasury

The amount paid to the Tax Authority corresponds to unpaid taxes, plus penalties and interest.

Tuesday, May 10, 2016

An article on reports that the Superintendent of the SAT, Juan Francisco Solorzano, said that "... It is the largest payment made by any entity, in relation to adjustments that had been made or that had been ordered as a result of a judicial process from which it was ruled that there was tax fraud or tax evasion. "

According to CICIG commissioner Ivan Velasquez, investigation into the case known as "The Line" led to "... discovery of the Case of Aceros de Guatemala, as it revealed a corruption network operating internally in the SAT, which was brought to light through wiretaps. "

See: How Excessive Bureaucracy Favors Corruption

Solorzano said that "... on May 5, the appointed auditor for Aceros de Guatemala was presented, to run the finances and control of expenditures ... after this measure, the company decided to make the payment on May 6 in a form that almost tripled what had been reported. "

More on this topic

Taxes: Supermarket Chain Investigation

December 2020

After inconsistencies were detected between purchases reported by taxpayers and sales that the company declared to the tax authority, an investigation was initiated in Guatemala into the "La Barata" supermarket chain.

During the morning of December 7, representatives of the Public Ministry (MP) and the Superintendence of Tax Administration (SAT), held a press conference in which they explained some details about a new case of alleged tax fraud by the chain of stores "La Barata."

Guatemala: New Measures Against Tax Evasion

February 2017

As part of an audit plan which will start this year and will include access to banking information, the tax authority will be verifying transactions of real estate sales.

With its 2017 audit plan the Superintendency of Tax Administration is preparing to use for the first time a law that authorizes it to access taxpayer's banking information when required.

Tax Amnesty Announcement in Guatemala Denied

April 2016

The Superintendent of Tax Administration has contradicted the announcement made by the finance minister and ruled out a possible tax amnesty in the short term.

The highest tax authorities in Guatemala are contradicting each other. Although the minister of Finance, Julio Héctor Estrada, announced a possible tax amnesty for the second half of this year, Juan Francisco Solórzano Foppa, head of the Tax Authority (SAT) said in remarks published by that "there will not be a tax amnesty".

Guatemalans Owe $ 705 Million in Taxes

February 2011

The Superintendence of Tax Administration (SAT) estimates that $ 449 million is owed in taxes and $ 256 million in penalties and interest.

However, it clarified that the SAT estimates viable to recover only 10% of that amount, about $ 45 million, through a partial exemption declared by President Alvaro Colom.

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