New Minimum Wage in Guatemala

A new Tax Memo set minimum wages for agricultural, non-agricultural and maquila export activities.

Tuesday, January 3, 2012

The new minimum wages will become effective from January 1, 2012.

-------------------------------------Per Day ------ Monthly
Agricultural activities------------ Q 68.00---- Q 2,068.33
Non agricultural activities ------ Q 68.00---- Q 2,068.33
Activities under decree 29-89--- Q 62.50---- Q 1,901.04

The memo states that “The monthly salary is determined by multiplying the daily wage for 365 days and then dividing it by 12 months".

According to the Memo, the purpose of the minimum wage is to get a greater number of workers earning wages above the minimum. Accordingly the executive promotes policies that encourage companies to adopt better systems of remuneration so workers may have a better quality of life. Employers are encouraged to seek and implement remuneration methods that allow them to be competitive and improve their workers' income.



More on this topic

Guatemala January 2012 Tax Calendar

January 2012

Memorandum on "Minimum Wages 2012", and repayment schedule for payment of tax obligations for December 2011.

January 2012 Tax Calendar

The deadlines reported in this month correspond to obligations for December 2011.

Friday the 13th Schedule of VAT (January to December 2011) 1119

Guatemala Tax Calendar for November 2011

November 2011

Repayment schedule for tax liabilities for November 2011, and Tax Memorandum.

Tax Calendar October 2011

The repayments shown for this month correspond to the liabilities for October 2011.

Tuesday 15 Employee ISR Deductions (Income Tax Law Article 63) SAT-No. 1054 SAT-No. 1055

Guatemalan Tax Calendar October 2011

October 2011

Schedule for the payment of tax obligations for October 2011.

TAX CALENDAR October 2011

The deadlines this month, corresponding to obligations up to September 2011.

Friday 14 - Employee Retention ISR (ISRJ Law Article 63 - SAT-No. 1054 - SAT-No. 1055

Friday 14 - 10% Withholding Tax on Financial Products - SAT-No. 1054 - SAT-No.1055

Memorandum and Guatemala Tax Calendar January 2011

January 2011

Minimum Wage 2011 and maturity dates in January 2011 for tax liability of December 2010.

MINIMUM WAGE

In a publication made on December 30, 2010, in the Official Newspaper, the Government Agreement No. 388-2010 of the Ministry of Labour and Social Welfare, establishes the new minimum wages for agricultural activities, and for non-farming export activities ruled by Decree No. 29-89, effective January 1st, 2011.

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