Guatemala: Resumption of Tourism Incentive Plan

A draft bill proposed by the Executive includes the exemption for five years from import tax on goods needed to start development of tourism projects.

Wednesday, August 16, 2017

n dir="ltr">The bill that has been promoted by the Inguat since last year includes several incentives such as tax exemptions and others, but it has not yet been agreed with companies in the tourism sector.

See also "
Honduras: Tax Incentives Approved for Tourism" reports that "...According to the preliminary draft to which we had access, and which has not yet been agreed with all the parties, exemption would be granted from import taxes for five years for capital goods needed to start operations or remodel projects framed around activities such as accommodation, transportation, amusement parks, convention centers, museums, golf courses, handicraft workshops, hospitals specialized in health and wellness, rental of vehicles for tourism and real estate focused on tourism developments."

"... Jorge Mario Chajón, director of the Inguat, said that there is still no definitive version of the initiative and they are currently working on a joint table with the Superintendency of Tax Administration (SAT), the Ministry of Finance (Minfin) and the Commission of Congress Tourism."

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More on this topic

Law Reforms to Reactivate Tourism

February 2018

A decree reform to promote local tourism, and a bill that would grant tax exemptions for investments in certain tourist sites, are some of the proposals to boost tourism activity in Guatemala.

In addition to the decree that moves holidays to a Monday or Friday in order to favor destinations which are further away by creating long weekends, and the bill that would give tax benefits to investments in tourist sites, authorities at the Guatemalan Institute of Tourism also intend to modify the institution's Organic Law.

Panama: Incentives for Reforestation

February 2017

A bill put forward by the executive branch proposes tax breaks and direct non-refundable financing for implementing restoration or reforestation plans.

From a statement issued by the Presidency of Panama:

The Cabinet has endorsed a bill that aims to encourage increased forest cover and promote conservation of natural forests in the country, through the promotion of activities inherent and necessary for efficient management of the forest.

Guatemala: Tax Incentives for Tourism Investment

October 2016

A bill prepared by the Guatemalan Institute of Tourism proposes giving tax benefits to companies investing in the areas of Izabal, Las Verapaces, and Petén.

INGUAT director Jorge Mario Chajón told that "... it is an initiative that is still under discussion, but aims to address problems in the departments' which have been abandoned for a long time and do not have any developed tourist infrastructure'."

Tourism in Panama Still Lacks Incentives

July 2016

The delay in the approval of the regulations of Law 80, which should be ready in August, has prevented employers from taking advantage of incentives to invest inside the country.

Law 80 came into force in March 2015 and the lack of its rules has delayed the implementation of incentives for the construction of hotels within the country. The law establishes a total exemption from tax on imports, for a period of five years, for building materials and 10 years for the entry of materials, basic tools, furniture and equipment, plus incentives for construction of tourist marinas and docks.

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