Guatemala Reports Record Revenue Collection

The Superintendency of Tax Administration of Guatemala has reported revenues of Q10 billion ($ 1.27 billion) in 2011, a record in the collection of income tax.

Friday, January 20, 2012

Revenues for the payment of income tax (ISR) totaled about Q10 billion ($ 1.27 billion), in 2011 according to the Superintendency of Tax Administration of Guatemala (SAT).

"The good results obtained by the companies are due to the recovery of the Guatemalan economy, and measures implemented to combat tax evasion by the SAT also helped the collection of income tax (ISR) to exceed Q 10 billion in 2011, an increase of 30 percent compared to the Q7.74 billion ($ 989 million) in 2010 , " published ElPeriodico.com.

Rudy Villeda, head of the SAT, said the increased tax revenues are due, on one hand, to more effective measures to combat tax evasion, and, secondly, the incorporation of more than 4,100 new taxpayers the provinces.

The superintendent noted that one of the measures to be taken this year to reduce tax evasion is "the implementation of electronic invoices for large and medium taxpayers," reported ElPeriodico.com.



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Guatemala: Tax Revenues Grow

August 2011

In the first half of the year revenues generated by taxes increased by 18% compared to the same period in 2010.

Value added tax and income tax grew the most in the aforementioned period, by 18% and 34% respectively.

While overall growth was seen, decreases were observed in the amounts collected from taxes such as the tax on tobacco and the distribution of oil and its derivatives.

Tax Revenue Increases 9.25% in Guatemala

December 2010

As of November tax revenues have increased $ 393 million over the same period in 2009.

In the first eleven months of the year tax collection totaled $ 4.247 million according to the Superintendence of Tax Administration.

"The tax which has generated more revenue to the Treasury in 2010 is the Income Tax (ISR) with $ 905 million" reports the article in Sigloxxi.com.

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