The Superintendency of Tax Administration has authorized the publication of audit procedures in cases of VAT refunds to exporters.
In response to complaints from several exporters, the Ministry of Finance has removed the information restriction on enforcement procedures as approved in the Access to Information Act. This follows complaints from the private sector over the fact that the rules defining the auditing procedures carried out by the SAT are not precisely known.
Among the changes to be made to the draft of the Emerging Law for the Conservation of Employment is the limitation of activities developed in free zones.
The bill which aims to uphold a series of incentives for the productive sector, while the Law on Investment and Employment is being analysed in Congress, will undergo a series of amendments at the request of the tax administration and the Ministry of Finance.
As part of the agreements signed between the two governments the elimination of double taxation has been established.
From a statement issued by the Government of Guatemala:
Within the framework of an official visit by President Otto Perez Molina which will took place on Friday, the Governments of Guatemala and Mexico signed the following bilateral agreements:
In an attempt to increase tax revenues, the executive announced that it is now considering taxing the distribution of soft drinks such as juices, isotonics and sodas.
It is expected that in the first week of February analysis will be presented of modifications to the tax on the distribution of beverages and on tobacco and tobacco products, with the aim of obtaining more resources to finance the national budget for this year.
The monetary authority has endorsed the issuance of $447 million in Treasury bonds, which will be used to settle debts with private contractors.
José Luis Agüero, president of the Guatemalan Chamber of Construction (CGC) believes that this is an important step to be able to honor the debt, and if Congress goes on to approve the issuance, they will become resources that will revive the economy.
The Ministry of Finance intends to give the public more and better access to information provided by the website Guatecompras.
From a press release published by Diario de Centro América:
In order to make purchasing and tendering processes more transparent, and so that the information for audit is fully accessible to the public, from June the Ministry of Public Finance (Minfin) will make changes to the website Guatecompras.