Guatemala's fiscal reform hits roadblocks

The bill presented to the government by the National Peace Accord Board is aimed at raising the tax bite to 13.2 percent of Gross Domestic Product from its present level of about 12 percent.

Tuesday, June 17, 2008

The lack of consensus among the deputies and the request to investigate whether the leader of the main opposition party has received bribes has threatened the passage of the fiscal package.
"We're short a little bid of consensus," was the response of President Alvaro Colom when commenting on the budget proposal.
As a result, the Executive has decided the time is not quite right to present the proposal to Congress.

More on this topic

Guatemala: Criticism of Tax Reform

August 2016

Absence of initiatives to cut spending and lack of dialogue with the business sector are the main criticisms of the tax reform bill proposed by the Executive Power.

In addition to the expected impact on the productive activities that will be affected, such as mining, one of the criticisms of the project is the absence of issues related to transparency in the use of resources, a key issue after the corruption cases revealed in 2015.

Costa Rica: Fast Track for Fiscal Plan

September 2011

The draft ‘Law on Solidarity Tax’ must be discussed and ruled on within a month.

The Legislative Assembly has approved a fast track process for the bill proposed by the government, which has generated controversy in previous months, due to the opposition generated by the private sector over sections of the law proposed by President Chinchilla’s administration.

Tax Reform Bill Canceled in Guatemala

August 2009

The tax reform law project was officially withdrawn from Congress by the ruling party.

The project suffered modifications that changed its original concept, as a result of complaints and objections by the opposition.

"... the project known as fiscal reform intended to replace one tax with the Specific Tax to a Terrestrial Vehicle's First Plate", reports Prensa Latina.

Guatemala's government presents a fiscal reform initiative

June 2008

Guatemala's finance ministry began this week to send out information aboiut its proposed fiscal reform agenda.

Measures proposed include a total rewrite of the Income Tax Law and changes to the law governing the value-added tax (IVA). The goal is to raise the load on taxpayers from 12 percent of Gross Domestic Product (GDP) to 13.2 percent.

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