Guatemalan agricultural exporters have questioned the measure taken by the Treasury to seize bank accounts in order to recover unpaid taxes, arguing that it is affecting their operations.
Arguing that the measure is attached to the law, the Tax Administration has defended its right to take injunctive measures such as seizing bank accounts in order to recover taxes that companies have stopped paying.
Between 2011 and 2014 the number of people with bank accounts grew in all Central American countries, with noteworthy growth in El Salvador of 23%.
In Guatemala bankariztion grew by 19% in the period in question, reaching 9.2 million people with at least one bank account. In Honduras' growth was 11%, Costa Rica's 14%, Panama's 19%, and in Nicaragua, the increase was only 5%.
The Superintendency of Banks in Guatemala has published the Financial Inclusion Report corresponding to the fourth quarter of 2014, noting an increase of 15% in the number of account holders.
From a statement issued by the Superintendeny of Banks in Guatemala:
Financial Inclusion refers to a set of actions which aim to increase access and improve the use of financial services for all segments of the population, including those who have traditionally been neglected, ie, the poor and rural segments. Its importance centers around the fact that lack of access to financial services causes people limitations in their ability to save, receive credit and to protect against the occurrence of situations or disasters that may affect them in their daily lives, through insurance coverage.
With the implementation of the Standardized Bank Accounts starting July 1st banking transactions will be streamlined.
From a statement issued by the Bank of Guatemala (BANGUAT):
Standardized bank accounts for Guatemala will come into effect, firstly, to standardize the numbers of current and savings accounts, which are commonly used to transfer funds electronically at the interbank level, through internal and external systems in the country.