Coronavirus: Employer's Dues Payments Deferred

As a result of the crisis generated by the spread of the covid-19, during the following three months companies in Guatemala will be able to defer payments to Social Security, Irtra and Intecap.

Tuesday, March 24, 2020

The boards of directors of the Guatemalan Social Security Institute, the Workers' Recreation Institute (Irtra) and the Technical Institute for Training and Productivity (Intecap), reported that the payments of employer's contributions for March, April and May were suspended, to be deferred in the second half of the year.

See "Coronavirus: Forecasts for businesses in Central America"

Carlos Contreras, president of the IGSS, told Prensalibre.com that "... The distribution of the payment may vary and in the case of the IGSS it may be up to 18 months, without interest, without arrears and without administrative expenses."

The article adds that "... Suspended payments are for the private sector employer, while the public sector must maintain its contributions. Also the labor quotas are maintained normally."

Coronavirus: How do the outlook for business in Guatemala change?

We prepared for our clients the report "Information System: Covid-19 and Business Outlook" which helps companies to measure the impact that the crisis will have on their activity in the coming months.

Click here to request access to this report.



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Faced with the health crisis affecting the Salvadoran economy, businessmen from the industrial sector asked the government to postpone income tax declarations until June 2020.

Another of the specific requests of the Salvadoran Association of Industrialists (ASI), is the prompt refund to exporters of Value Added Tax, through Treasury Notes.

Restaurants: Entrepreneurs Ask Government for Support

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In response to the health crisis facing Panama, the sector's union requested government intervention to suspend rent collections and payment of employer's fees.

On April 1, 2020, the Association of Restaurants and Related Industries of Panama (ARAP) sent a note to the Presidency of the Republic, in which they requested that given the crisis that has been generated by the outbreak of covid-19, they be granted a moratorium of 6 months or more.

Panamanian Banks Give Extensions to Clients

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In response to the country's health crisis, 15 banks have granted a 90-day extension for their customers to make their personal credit card, home mortgage, vehicle and personal loans.

Until March 31st, the financial institutions that confirmed that had granted the extension to their clients are BAC Credomatic, Banco General, Banistmo, Banco Nacional, Global Bank, Multibank, St.

The High Fiscal Cost of Anti-Covid-19 Measures

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For Moody's, the Costa Rican government's response to the Covid-19 crisis will put negative pressure on the country's fiscal profile.

According to the rating agency's analysis, the measures include a three-month moratorium on tax payments, a gradual reduction in corporate social benefit contributions and extended credit lines for the companies most affected by the economic recession.

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