Guatemala: Tax on Interests from Sovereign Bonds Eliminated

Holders of government bonds will no longer pay 10% tax on the returns generated.

Monday, January 13, 2014

This was established after the reform of the Budget Code of Guatemala, which regulates share certificates ​​of the Republic.

"The tax was an obstacle to developing the secondary market because banks, which are major holders of these securities, could not sell to individuals, because rather than making money they could lose them some," said Rolando San Román , general manager of the National Stock Exchange (BVN).

"... the reform gives greater flexibility for stock transactions, providing liquidity to the secondary market and speeding up the sale of securities," said Edgar Barquín, president of the Bank of Guatemala.



More on this topic

Court Decision Eliminates Bank Secrecy

August 2019

One year after the suspension of taxpayers' access to bank information for tax purposes, the Guatemalan Constitutional Court ruled definitively and revoked the suspension.

The issue had been on hold since August 2018, when the country's highest court temporarily suspended the article of the law that in Guatemala granted companies access to banking information with a court order at the request of the tax authorities.

Banks Win Tax Lawsuit

May 2019

In Costa Rica, the banking sector won a lawsuit it imposed against the Ministry of Finance, arising from disagreements over the method used to calculate tax payments.

The legal dispute dates back several years, since in 2003 the General Directorate of Taxation (DGT) validated the methodology suggested by the Costa Rican Banking Association (ABC) to calculate the payment of taxes on the income of financial intermediaries.

Cemex Appeals Ruling Over Non-Payment of Municipal Tax

July 2013

Court cases arising from from tax exemptions granted by central governments but which go against municipal regulations are common in the region.

Eluniversal.com.mx reports that "Although the government of Costa Rica has ordered the cancellation the operations of a quarry belonging to the Costa Rican subsidiary of the transnational company Cementos Mexicanos (Cemex) in the northwestern town of Abangares, over a debt of some 7 million dollars in tax payments, the company announced yesterday that it will appeal the decision because it "unjustifiably harms" operations in this country. The resolution was issued on Friday by the General Office of Geology and Mines at the Ministry of Environment and Energy (Minaet ) of Costa Rica. Cemex has three days to appeal because the order is for the Abangares police to prevent exploitation at the quarry. "

Costa Rica: Paying Taxes Takes Up 226 Hours Per Year

April 2013

Although there are countries in Latin American where paying taxes is an even more cumbersome task, the country needs to improve both the rules and the operation of the tax collection system.

According to PricewaterhouseCoopers (PWC), the country is located at No. 125 in the world rankings on how easy, or difficult, it is to pay taxes.

 close (x)

Receive more news about Debt Market

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 15)
Brent Crude Oil
54.84
Coffee "C"
129.8
Gold
1,828
Silver
24.745