The amount paid to the Tax Authority corresponds to unpaid taxes, plus penalties and interest.
An article on Lahora.gt reports that the Superintendent of the SAT, Juan Francisco Solorzano, said that "... It is the largest payment made by any entity, in relation to adjustments that had been made or that had been ordered as a result of a judicial process from which it was ruled that there was tax fraud or tax evasion. "
A waiver of fines, interest and penalties will apply starting June 12th and will run for 90 days for all taxpayers, both natural or legal persons.
Government Agreement No. 174-2014 published in Diario de Centroamérica:
"Article 7. Transient. Regularization. Taxpayers from the term of this Agreement, who elect to regularize operations or modify the method of recording costs and expenses, under this agreement, though the application of the special treatment provided therein and who owe taxes or formal sanctions, may enjoy exemptions from penalties, interest or surcharges in the method set out in this article. "
President Otto Perez Molina will not grant exemptions from fines imposed by the Tax Authority.
An article in Elperiodico.com.gt reports that "The President has asked the General Secretariat of the President to address the 202 cases presented by businessmen, politicians and figureheads." A study of each case will be conducted, the recommendation and the opinion of the President now is that they [exonerations] will not be granted", said the general secretary, Gustavo Martinez."
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