The initiatives of Competition, Leasing and the reforms to the General Law of Telecoms are some of the projects that the new administration of Giammattei plans to present to the Congress of Guatemala.
During his inaugural speech, the new president of Guatemala gave the first guidelines in the economic field, highlighting which projects should be streamlined in the Legislative.
As a result of the operations carried out by the Superintendence of Tax Administration to stop smuggling, in recent days there have been two attacks on the customs area of Tecún Umán I, on the border between Guatemala and Mexico.
According to information provided by the Guatemalan authorities, on November 13 and 17, groups of alleged smugglers attacked the customs of Tecún Umán I in San Marcos, because in the operations deployed by the tax authority, merchandise was seized that was not declared upon entry into the country.
As a result of the elimination of banking secrecy in Guatemala, the business sector announces that it will be alert to "respect due process and the confidentiality of taxpayers.
One year after having suspended access to taxpayers' bank information for fiscal purposes, at the beginning of August the Constitutional Court ruled definitively and revoked the suspension, so that in the coming weeks the changes will begin to apply.
Amcham said that the lack of a clear strategy to attract foreign investment and uncertainty over key issues such as the emergent employment law are causing the country's business climate to deteriorate.
The views of the main chamber of foreign companies in the country do not coincide with those of Banco de Guatemala, which anticipates growth of 8.5% in foreign investment flows.In the view of Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), "... 'these figures are not realistic."What has happened specifically in the mining sector, with thesuspension of seven projects in a week, has affected the investment climate among foreign companies.
It has been reported that one of the 17 free zones operating in the country has started the process of closing its operations entirely due to the legal uncertainty generated by the emergent employment law.
Companies operating in free zones have spent several months denouncing the serious situation they have faced since the Emergent Act for the Conservation of Employment was implemented, instead of encouraging investment and job creation, it has become a good example of how to discourage investment in a country.
Amcham claims that the political crisis drove away investors who are now considering returning, "convinced that the message of the intention to strengthen the State is true."
Juan Pablo Carrasco, vice president of the Guatemalan Chamber of Commerce (AmCham), told Elperiodico.com.gt that "... An example of (better perceptions) is that on 23 September, a trade mission composed of 12 US franchises come to the country with the idea of settling there, which is a message of confidence to Guatemala and its market. "
The Tax Authority announced special audits in companies with "related parties abroad", which can be avoided by presenting an Agreement on Advance Pricing.
This year nine audits are being carried out with the objective of corroborating "...
A new tool allows private companies to independently assess the level of compliance with the Guatemalan Labor Law.
The purpose of this certification is for companies interested in attracting foreign partners to be able to prove they comply with labor laws in the country, as explained by representatives of the American Guatemalan Chamber of Commerce (Amcham), developer of the tool.
Just on the hiring of private security services companies spend $243 million per year, on top of the payments made to those extortingtransport carriers on the roads.
These unpunished crimes are not just affecting freight companies operating in the country, but are also increasingly reducing the possibility Guatemala has to attract more and better foreign investment which would contribute to its socioeconomic development.
Employers are complaining that the lack of clarity over how the income tax law is applied is generating legal uncertainty.
The law on income tax that arose from the tax reforms two years ago is still raising doubts among private entrepreneurs, who believe that the lack of clarity on how it should be implemented not only casts doubts and causes legal uncertainty, but also generates more informality.
Entrepreneurs are warning that illegal payments are still being made for getting goods through because the intervention operation has not worked.
The business community believes that the operation for intervention in customs offices has not worked properly and users have to make illicit payments in order to get their goods through.
With the decreed intervention the time it takes to pass through customs has doubled and even tripled in some cases.
Elperiodico.com.gt reports: "The militarization in customs offices and the lack of staff in the Tax Authority (SAT) are delaying the passage of trucks by between three and ten days."
Authorities plan to purchase these devices for both sea and land ports, and to charge a flat rate per container.
This was announced by the chief of Interior, Mauricio Lopez. He added that the goal is for every container passing through these customs offices to pay between $15 and $20.
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