Guatemala: Tax Calendar April 2018

Calendar of payment of obligations corresponding to March 2018 and Tax Memorandum on how and when to use credit notes.

Friday, April 6, 2018

From a tax memorandum by Tezó y Asociados:

The VAT Law establishes that in specific cases, duly justified and in order to provide taxpayers with timely compliance with their tax obligations, the Tax Administration is able to authorize, at the request of the Taxpayer, the issuance of other documents, additional to the Credit Notes that document returns, cancellations or discounts on operations already paid for. 

Following this tax rule, the Regulation of the VAT Law establishes that the taxpayer may use, with prior authorization from the Tax Administration, "Credit Notes" to document inventory rebate, when the term to issue Credit Note and Debit Note has elapsed, for any reason.  

Our opinion is that the regulation should be written like this: "... to document returns of inventories, when the term to issue Credit Note, has elapsed. In addition, for the cancellation, for any reason, of invoices issued for services provided.  

Read full release (in Spanish).

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