Memorandum on Physical Inventories and payment schedule for obligations in May 2016.
From a Memorandum sent by Tezó and Associates:
Physical inventories: Counting properly
One of the main components of financial statements of company´s with industrial or commercial activities are inventories, which are usually made up of goods available for sale or consumption and inventories of production processes.
The company Management, at the end of the accounting period must ensure that the inventory quantities that may exist in their stores, warehouses or any other collection site correspond to the economic reality by carrying out physical counts in order to ensure that the amounts of inventories are kept in good shape and are valued in accordance with the IFRS.
Memorandum on Tax Bancarization and obligations for payment schedules corresponding to April 2016.
From a Memorandum sent by Tezó and Associates:
The regulation on Tax Bancarization is included in Articles 20 and 21 of Decree No. 20-2006, articles which were amended by Articles 27 and 28 of Decree No. 04-2012, specifically in order to change the amount of banking penetration from Q50,000.00 to Q30,000.00.
Memorandum on the Emerging Act for Conservation of Employment and payment schedule of obligations in March 2016.
From a Memorandum sent by Tezó and Associates:
In the Diario de Centro América dated March 30, 2016, Decree No. 19-2016 was published which contains the "Emergent Act for Conservation of Employment"; which aims to amend Decree No. 29-89 "Law on Promotion and Development of Export and Maquila Activities and Decree No.
Payment schedule for the most relevant obligations, corresponding to June 2015.
From a statement issued by Tezó and Associates:
Friday, June 12
ISR monthly Employee Retention
-Retention for income from real estate and assets (interest)
-Declaration of Income tax on income from real estate and assets (when not retained)
-Declaration of Income tax on income from capital gains
Payment schedule of liabilities for April 2015 and Tax Memorandum on Fiscal Solvency.
Tax Memorandum by Tezó and Associates:
After several suits claiming the unconstitutionality of Article 57 "A" of the Tax Code which establishes fiscal solvency, this rule is in force, except the paragraph that reads "The Tax Administration will determine the requirements, characteristics and other necessary conditions for obtaining it." , which was declared unconstitutional.
Tax Memorandum by Tezó and Associates regarding verification of the information presented in the annual declaration of income tax.
Tax Memorandum by Tezó and Associates:
In March 2015 the SAT sent an email containing a reminder to some Special Taxpayers in respect to the maturity of the annual Income Tax affidavit (ISR). This email includes he notice with the following paragraph: "In April 2015, the SAT will verify the information presented in the annual ISR affidavit, for which reason it asks, among other things, for the integration of non-deductible expenses and receivables reported and declared. "
Tax Memorandum by Tezó and Associates on Transfer Pricing and schedule for payment obligations in February 2015.
Tax Memorandum by Tezó and Associates:
Under Articles 54 and 55 of Decree No. 10-2012, effective from January 1, 2015, the tax authorities can check whether transactions between related parties (an entity resident in Guatemala with a resident abroad), are rated according to the principle of free competition and make adjustments when the valuation agreed between the parties results in less tax being paid in the country or deferred taxation; if adjustments are made an audience must be conferred within the Process for Determination of Tax Liability by the Administration, established in the Tax Code. It is understood for tax purposes, under the Principle of Free Competition, that the price or amount for a particular operation that independent parties may have agreed in conditions of free competition should be comparable to those performed operations.
Payment schedule for liabilities in January 2015 and Memorandum on Tax Bancarization.
Tax Memorandum
The requirement for Tax Bankarization is regulated by Articles 20 and 21 of Decree No. 20-2006, articles which were amended by Articles 27 and 28 of Decree No. 04-2012, specifically in order to change the amount of bankarization amount from $6,585 to $3,951
Schedule of payment of liabilities for December 2014 and Tax Memorandum on the new control department for exempt taxpayers.
Tax Memorandum
Department of Control for Exempt Taxpayers
The SAT is directly notifying taxpayers of the creation of a Department of Control for Exempt Taxpayers
The core of the notification indicates that:
"The Superintendency of Tax Administration has implemented a Control Department for Exempt Entities to provide in a comprehensive manner, service, control and monitoring of compliance with tax and customs obligations; and verify the proper use of the benefits of those entities that enjoy tax breaks of any kind.
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. 229-2014 through which issues the "Regulation of Occupational Health and Safety" must be observed by all employers. Its validity is from February 11, 2015, ie there are six months to implement the measures for occupational health and safety, required by this Regulation.
Calendar of payment obligations for July 2014 and Memorandum Tax on banking secrecy.
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):