Guatemala: Tax Calendar - November 2017

Payment schedule for obligations corresponding to October 2017 and Tax Memorandum on amendments to the Commercial Code.

Tuesday, November 7, 2017

From a Memorandum sent by Tezó and Associates: 

In the newspaper Diario de Centro América dated October 31, 2017, Decree number 18-2017 was published containing reforms to Decree number 2-70 of the Congress of the Republic, Guatemalan Commercial Code, valid for ninety (90) days after its publication.  

The main aim of the reforms is to reduce the time for registration of an Individual Merchant, a Mercantile Society and a Foreign Company. For the Individual Merchant, the requirement that the application for registration must be done with an authenticated signature has been eliminated; This request can be made in physical form or by electronic request. For registration of a Mercantile Company and a Foreign Branch, the provisional registration and its publication in the Official Newspaper have been eliminated; there will be an obligation to publish registration of the Company and for this purpose an electronic communication media as part of the Mercantile Registry has been created. The procedure for Capitalization of a Legal Reserve has been reformed, which may no longer be for the total balance of the Reserve, there must always be 5% of the paid capital.  

Read full calendar (in Spanish).

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With the amendments to the Commercial Code, it is now possible to register a limited company on the Mercantile Registry site and registration of individual merchants will soon be available.

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