How to Save Services and Commercial Sector?

Implementing a rescue plan in which SAT makes tax collections more flexible and IGSS assists employees is part of the proposal of Guatemalan businessmen in the commercial and service sector, given the crisis that has been generated by the health emergency.

Tuesday, March 31, 2020

After the government decided on March 29 to extend for two more weeks the measures restricting freedom of movement, which includes the transit and movement of people, crew, passengers and vehicles, between 4 pm and 4 am, businessmen from the commercial and service sectors visualize a dark outlook for the following months.

See "Post-Quarantine Consumption Patterns"

Julio Reyes, president of the Business Chamber of Commerce and Services (Cecoms), told Prensalibre.com that "... Until now, the service sector has been one of the worst hit economically, and now the commercial sector is increasingly paralyzed. Therefore, a strategy must be designed for these companies, not for profit, but to maintain jobs, because if the authorities do not provide timely support, what we will begin to see is a massive wave of layoffs in the commercial and service sector that will affect the most vulnerable population."

According to Reyes, the government has the possibility of alleviating the burden on the business community so that it can continue to maintain its commitments, in terms of payroll, service expenses, taxes and operations, while being closed. This can be achieved with the participation of the Superintendence of Tax Administration (SAT) and the Guatemalan Institute of Social Security (IGSS).

The economist Erick Coyoy, believes that "... can force a businessman to pay wages, when he will not receive income, resources must be sought through the Bank of Guatemala or the IGSS."

Covid-19: How are the outlook changing for businesses in the commercial and service sector in Guatemala?

We prepared for our clients the report "Information System: Impact Analysis of Covid-19 on Business" that answers these and other questions in times of uncertainty.

Click here to request access to this report.



More on this topic

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Applying cleaning and prevention protocols in workplaces and shops, such as those stipulated by the health authorities, are the proposals of Costa Rican businessmen to resume the commercial activity that has been restricted since mid-March.

Following the spread of covid-19, in Costa Rica and the other Central American countries, governments have decreed mandatory quarantines and have also restricted the movement of consumers at certain times.

Businessmen Take Action Against SAT

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Guatemala's private sector filed a legal action against the Superintendence of Tax Administration, arguing that the entity had indicated that it would defer tax collection if the restrictions remained in place, but did not do so.

Because of the outbreak of Covid-19 in the country, which as of April 15 counted 196 cases, for the time being the government has decided to maintain until April 19 the measures restricting freedom of movement, which includes the transit and movement of persons, crew, passengers and vehicles, in addition to the closure of most commercial establishments.

Businesses: Emergency Relief Rent Bill

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Costa Rican businessmen support a bill that seeks to modify or suspend payment methods and other contractual conditions of leases in cases of force majeure, such as the current health emergency.

In the context of the propagation of covid-19, the Costa Rican Chamber of Commerce (CCCR) sees with total positivism the plan of relief in the leases, as much for the families, as for the commercial activity, proposal made by the deputy Pedro Muñoz in the Project, file No. 21.851, reason why we requested to be convoked in extraordinary sessions for its discussion.

Coronavirus: How to Avoid Shortage?

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Allowing import, export and transit processes to be carried out efficiently is the recommendation of the region's businessmen to avoid product shortages in the regional market.

For the Federation of Chambers and Industrial Associations of Central America and the Dominican Republic (Fecaica), governments should continue to take the measures considered necessary so that the cases detected so far do not continue to multiply, or at least, the contagion curve can be minimized, taking actions such as activating and expanding emergency response mechanisms and informing the population about the risks and ways to protect themselves.

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