Guatemala: Greater Control for Multinational Companies

Regulators will oversee sales operations and transfer of funds from multinational companies based in the country and overseas branches.

Tuesday, February 15, 2011

The Superintendence of Tax Administration will create an international audit department, which will start operations in March.

Rudy Villeda, Superintendent of Tax Administration, told, "The idea is to have more information from multinationals with related companies abroad, as they sometimes affirm they declare taxes in other jurisdictions and that must be verified".

The project is supported by the U.S. Treasury Office and the German Cooperation Agency.

More on this topic

Panama: More Companies in the SEM Regime

December 2017

Six new foreign companies will be establishing their regional headquarters in the country, under the conditions of the Multinational Company Headquarters regime in Panama.

From a statement issued by the Ministry of Trade and Industry:

MICI 11-12-2017.  Confirming once again the competitive advantages offered by the Panamanian isthmus as the great connection of the Americas to the world, six new companies will be establishing their regional headquarters in Panama, with a direct investment -only in its first year of operation under the SEM regime. - of more than four million dollars and the creation of some 200 jobs. 

Panama: More Companies Under the SEM System

June 2016

At the close of the first semester 13 new licenses will have been approved giving foreign companies the ability to operate under the Site of Multinational Corporation regime.

The companies that requested permission to set up in the country under the Site of Multinational Corporation (SEM) regime come from the United States, Denmark, Scotland and the Netherlands, among other countries, explained Trade Minister Augusto Arosemena.

Costa Rica Tax Information Exchange for Multinationals

January 2016

Along with 31 other countries Costa Rica has signed an international agreement that supports the automatic exchange of information on multinational companies.

From a press release issued by the OECD:

27/01/16-As part of continuing efforts to boost transparency by multinational enterprises (MNEs), 31 countries[1] signed today the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports. The signing ceremony marks an important milestone towards implementation of the OECD/G20 BEPS Project and a significant increase in cross-border cooperation on tax matters.

OECD Going After Evading Multinationals

January 2013

The Organization for Economic Cooperation and Development wants to prevent schemes that allow using different jurisdictions in order to avoid paying tax where the activity is being carried out.

An article in reports that "The Organization for Economic Cooperation and Development (OECD) has prepared a report, commissioned by the G20, which will be presented in early February to launch changes in international tax regulations that prevent multinationals from exploiting loopholes in order to pay very little tax by declaring profits in tax havens. "