Guatemala: Tax Reforms in Place

As of March 13th, the second exchange or sale of real estate will not pay VAT, just 3% stamp duty.

Tuesday, March 13, 2012

The Tax Update Law (Decree 10-2012), which entered into force on Tuesday 13th March, indicates that Value Added Tax (VAT) of 12% will be paid only on the first transaction of a property. Taxpayers will pay only 3% stamp duty.

Another change is that schools may no longer benefit from VAT exemption for school transportation, sale of supplies, uniforms, etc; from now on they are required to submit invoices. The only items exempt are registration, tuition and examination fees, reports

As for the sale and transfer of vehicle ownership, 12% VAT has been established for recent models – current year or one year older. The rate will be calculated in a Table of Values to be issued by the Superintendency of Tax Administration (SAT) each year.

More on this topic

Guatemala: Government Expands Tax Reform

February 2015

Despite several announcements of new taxes, the government will focus on controlling tax evasion and leave the decision to implement a tax reform to future administrations.

According to authorities at the Ministry of Finance, at the moment there is no consensus for fiscal reform.

Costa Rica: Constitutional Tribunal Rejects Tax Reform

April 2012

The Sala IV has rejected the tax reform bill that was approved in the first instance in Congress, citing procedure errors in the legislative treatment.

The court decision means, in principle, that the bill that the government calls the "Solidarity Tax" will be returned for consideration by congressional representatives and it will therefore be at least another four months before it can be approved.

Tax Reform Published in Guatemala

March 2012

Guatemala's government has issued the Tax Update bill, which will take partial effect within eight days.

According to Decree 10-2012, the new National Customs Law, changes to Value Added Tax, Stamp Duty and Stamped Paper Protocols Tax will all take effect in eight days, while the changes to Income Tax, Early Registration tax and Road Tax will take effect in 2013.

Consultation on Tax Reform in Costa Rica

November 2010

The Finance Minister began talks with political groups trying to identify a project with as much support as possible prior to presentation.

Fernando Herrero, minister of finance, stated to Aaron Sequeira of that the basics of the first draft of the proposed tax reform is progressiveness and simplicity, with the Value Added Tax (VAT) and Income Tax as the main sources of revenue.

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