Guatemala: Tax Incentives for Tourism Investment

A bill prepared by the Guatemalan Institute of Tourism proposes giving tax benefits to companies investing in the areas of Izabal, Las Verapaces, and Petén.

Wednesday, October 5, 2016

INGUAT director Jorge Mario Chajón told Elperiodico.com.gt that "... it is an initiative that is still under discussion, but aims to address problems in the departments' which have been abandoned for a long time and do not have any developed tourist infrastructure'."

According Chajón, "... reductions could be applied to the Single Property Tax (IUSI). She added that they also want to give exemptions on income tax (ISR) for a few years, in places where investment is made in tourism infrastructure. For that to happen there must be agreement with Finance and the Tax Administration Authority(SAT). "



More on this topic

Law Reforms to Reactivate Tourism

February 2018

A decree reform to promote local tourism, and a bill that would grant tax exemptions for investments in certain tourist sites, are some of the proposals to boost tourism activity in Guatemala.

In addition to the decree that moves holidays to a Monday or Friday in order to favor destinations which are further away by creating long weekends, and the bill that would give tax benefits to investments in tourist sites, authorities at the Guatemalan Institute of Tourism also intend to modify the institution's Organic Law.

Guatemala: Resumption of Tourism Incentive Plan

August 2017

A draft bill proposed by the Executive includes the exemption for five years from import tax on goods needed to start development of tourism projects.

The bill that has been promoted by the Inguat since last year includes several incentives such as tax exemptions and others, but it has not yet been agreed with companies in the tourism sector.

Tourism in Panama Still Lacks Incentives

July 2016

The delay in the approval of the regulations of Law 80, which should be ready in August, has prevented employers from taking advantage of incentives to invest inside the country.

Law 80 came into force in March 2015 and the lack of its rules has delayed the implementation of incentives for the construction of hotels within the country. The law establishes a total exemption from tax on imports, for a period of five years, for building materials and 10 years for the entry of materials, basic tools, furniture and equipment, plus incentives for construction of tourist marinas and docks.

Nicaragua: $56 million in Tourism Exemptions

June 2014

Up until May incentives have been authorized for 22 tourism investment projects, including the construction of the airport in Costa Esmeralda, for $12 million.

Tourism growth and incentives granted to investment projects in the tourism sector are boosting investment in the country, which, according to estimates by the Nicaraguan Institute of Tourism, will amount to $400 million in the year.

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