Guatemala: Tax Calendar for February 2016

Memorandum on the implementation of the rules on transfer pricing 2015 and payment schedule for obligations in January 2016.

Wednesday, February 3, 2016

From a Memorandum sent by Tezó and Associates:

Taxpayers who pay ISR (income tax) who carried out transactions in 2015 with related foreign companies, including imports, exports, services provided and received such as management services, legal, accounting, financial, technical or any other services; and where these operations had an impact on the determination of the income tax payable, are required to have a Transfer Pricing Study.

A taxpayer in Guatemala is considered related to foreign resident companies, when both are united in their commercial, financial and service relationships, by conditions made or imposed that differ from those which are made between independent persons and which are included in the cases established in Article 56 of Decree No. 10-2012, as amended.

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Guatemala: Tax Calendar February 2015

February 2015

Tax Memorandum by Tezó and Associates on Transfer Pricing and schedule for payment obligations in February 2015.

Tax Memorandum by Tezó and Associates:

Under Articles 54 and 55 of Decree No. 10-2012, effective from January 1, 2015, the tax authorities can check whether transactions between related parties (an entity resident in Guatemala with a resident abroad), are rated according to the principle of free competition and make adjustments when the valuation agreed between the parties results in less tax being paid in the country or deferred taxation; if adjustments are made an audience must be conferred within the Process for Determination of Tax Liability by the Administration, established in the Tax Code. It is understood for tax purposes, under the Principle of Free Competition, that the price or amount for a particular operation that independent parties may have agreed in conditions of free competition should be comparable to those performed operations.

Tax Calendar for Guatemala - July 2014

July 2014

Calendar obligations for payments in July 2014 and Tax Memorandum regarding information requests related to transfer pricing.

Tax Memorandum July 10 - 14 2014

The SAT has initiated the requirement for information regarding transfer pricing.

Article 27 of Decree No. 19-2013 moves the entry into force of the "Special Rules for Valuations Between Related Parties" to 2015.

Guatemala Tax Calendar for January 2014

January 2014

A memorandum has been released detailing tax reforms to the Law on Income Tax, and payment and obligations schedules corresponding to January 2014.

Tax Memorandum 1 to 14 January 2014

Amendments to the Law on Income Tax

Decree No. 19-2013 contains amendments to the Law on Income Tax (ISR by its initials in Spanish) contained in Decree No. 10-2012 and which was published in Diario de Centro América on December 20, 2013.

Guatemala Tax Calendar October 2013

October 2013

A Memorandum has been issued by Tezó y Asociados on the Transfer Pricing Study and obligations for the payment schedule corresponding to September 2013.

Tax Memorandum 12 to 13 October 2013
Transfer Pricing Study

The purpose of the transfer pricing study in Guatemala, is to determine whether transactions by a local company during a fiscal tax year, with related subjects living abroad, were agreed and at prices similar to those established between independent parties, which is defined as "Principle of Free Competition", and taking into account in this new standards established by Decree No. 10-2012, Act Income Tax (Articles 54 to 67) and in the Regulation (Articles 37 to 66).

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