Tax Calendar Guatemala August 2014

Calendar of payment obligations for July 2014 and Memorandum Tax on banking secrecy.

Monday, August 4, 2014

Tax Memorandum August 12nd - 14th 2014

Is bank secrecy is over?

All OECD countries as well as others such as Costa Rica have committed to the automatic exchange of tax information.

Because of the importance of this topic, the following is transcribed from a statement issued by the Organization for Economic Cooperation and Development (OECD):

Paris, May 6, 2014

Bank secrecy for tax purposes is coming to an end, because countries, along with major financial centers, have committed to the automatic exchange of information between jurisdictions.

The Declaration on the Automatic Exchange of Information in Tax Matters was adopted by the 34 member countries of the OECD during the annual Ministerial Council Meeting in Paris. Other countries such as Argentina, Brazil, China, Colombia, Costa Rica, Lidia, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore, South Africa, have also adopted the Declaration.

The Declaration commits countries to implementing a new single global standard in automatic exchange of information. The standard was developed by the OECD and was accepted by the finance ministers of the G-20 in February.



More on this topic

Guatemala Tax Calendar for September 2014

September 2014

Payment schedule of obligations corresponding to August 2014 and Memorandum on Tax Regulation on Occupational Health and Safety.

Tax Memorandum August 13th to 14th, 2014.

Regulation of Occupational Health and Safety

The Ministry of Labor and Social Welfare published in the official newspaper La Gaceta of August 11, 2014 Governmental Agreement No.

Tax Calendar for Guatemala - July 2014

July 2014

Calendar obligations for payments in July 2014 and Tax Memorandum regarding information requests related to transfer pricing.

Tax Memorandum July 10 - 14 2014

The SAT has initiated the requirement for information regarding transfer pricing.

Article 27 of Decree No. 19-2013 moves the entry into force of the "Special Rules for Valuations Between Related Parties" to 2015.

The End of Bank Secrecy?

May 2014

All of the OECD countries and others such as Costa Rica have agreed to the automatic exchange of tax information.

From a statement issued by the Organization for Economic Cooperation and Development (OECD ):

Paris, May 6, 2014

Bank secrecy for tax purposes is coming to an end because countries, along with major financial centers have committed to the automatic exchange of information between jurisdictions.

Guatemala Tax Calendar October 2013

October 2013

A Memorandum has been issued by Tezó y Asociados on the Transfer Pricing Study and obligations for the payment schedule corresponding to September 2013.

Tax Memorandum 12 to 13 October 2013
Transfer Pricing Study

The purpose of the transfer pricing study in Guatemala, is to determine whether transactions by a local company during a fiscal tax year, with related subjects living abroad, were agreed and at prices similar to those established between independent parties, which is defined as "Principle of Free Competition", and taking into account in this new standards established by Decree No. 10-2012, Act Income Tax (Articles 54 to 67) and in the Regulation (Articles 37 to 66).

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