Guatemala: Tax Changes Encourage Construction Sector

Changes to income tax and stamp duty for sales of public areas in condominiums will increase the activity.

Friday, January 24, 2014

Developers and homebuilders in Guatemala hope that the reforms to the Tax Update and ISR will encourage the growth of the sector with new projects.

"... Although there are no growth projections, its certain there will be a boom in this type of construction," said the president of the Chamber of Construction, José Luis Agüero.

"... amendments have been made to decree 19-2013 which modifies 24 of 25 items of various tax laws. Regarding construction, Article 34 and 35 of the income tax law, which adds 35 A, along with a change to stamp duty to facilitate the sale of shares in public areas in condominiums has changed.

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