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Agreement to Moderate Customs Penalties

Guatemala will reduce the grounds for tax sanction from 75 to 25, and will reduce fines up to 75%.

Monday, July 15, 2013

S21.com.gt reports that "A new initiative of the National Customs Act, has the backing of both the Government, business, customs and shipping offices, to reduce the number of grounds for sanctions to 25, from a list of 78 established in the regulation which despite being in force since February 2012, is currently suspended by government decision. "

Also planned is the use of an electronic marking system to replace the insurance for merchandise which raised costs for companies.

So far "more than five governmental agreements" have been issued, to correct errors reported by the Tax Update Law .

Source: sigloxxi.com

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