Guatemala: Tax Incentives For Textile Companies and Call Centers Only

Reforms have been made to a proposed Emerging Act for Conservation of Employment in order to maintain tax incentives only for textile sectors and call centers, leaving out other activities that were previously exempt.

Wednesday, February 17, 2016

Deputy Ovidio Monzon, president of the Congress Working Committee confirmed that the aim is to maintain the privileges and exemptions for textile companies and call centers. The other companies that had benefited the regime will be left out. "Our concern is for the more than 150,000 jobs that these sectors provide to Guatemalans to be maintained," he said.

See "Guatemala: Incentives for productive sector"

From a statement issued by the Congress of Guatemala:

The representatives Ovidio Monzon and Aristides Crespo, presidents of the Working Committees, Economy and Foreign Trade, gave a joint press conference to report that there was a ruling in favor of initiative 5007, Emerging Act for Conservation of Employment, to which some reforms were made.

With this measure the committees complies with the 10 day timeframe established for the plenary to discuss and issue a joint opinion which, after entering the Legislative Technical Direction, will go to the plenary for its first reading for the final approval phase.



More on this topic

Controversy Over Tax Regime for Agriculture

September 2019

In Guatemala, the chambers of industry and commerce oppose the bill that proposes to create a special tax regime for agricultural activity.

The project "Law on Simplification, Updating and Tax Incorporation", which has been in Congress for more than two years, was scheduled for final discussion until September 10. See full bill.

Guatemala: Tax Exemptions for Textile Companies and Call Centers

February 2016

The legislature has finally passed the Employment Act granting exemptions for 10 years for call centers and maquilas operating in the country.

From a statement issued by the Congress of Guatemala:

With 113 votes in favor, members of the National Emergency Congress approved Decree 19-2016, Emerging Act for the Conservation of Employment, which exempts import tax for 10 years for call centers and maquilas operating in the country .

Guatemala: Textile Companies Urge Investment and Employment Law

March 2015

The guild is once again insisting on the urgency of the government passing the law which grants tax incentives to the maquila industry so that they can remain competitive in the global market.

Once the Investment and Employment Decree 4644 is approved, there would come into effect "...

Nicaragua: Tax Exemptions for SMEs

December 2014

Exemption from VAT and income tax for SMEs operating under the fixed quota regime will be retained in the Tax Act Coalition whose reform is being proposed by the Executive.

There are about 200,000 small and medium enterprises (SMEs) operating under the so-called fixed quota regime, contributing 40% to gross domestic product (GDP).

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