In Guatemala were published in the Diario de Centroamerica the sanctions of the laws for the Simplification of Administrative Requirements and Procedures and Free Zones, regulatory frameworks that aim to encourage investments and job creation.
In the June 1, 2021 edition of the Diario de Centroamerica, the texts of Decree 5-2021, which corresponds to the Law for the Simplification of Administrative Requirements and Procedures, and Decree 6-2021, which refers to the Free Trade Zones Law, were included. See complete publication.
In Guatemala, President Alejandro Giammattei decided to veto the reforms to the Contracting Law and announced that the bill will be returned to Congress with the respective observations.
According to Giammattei, the observations consist in the fact that the reforms to the Contracting Law should only apply to the purchases made by the Municipalities and not to the bids made by the institutions of the Executive.
In Guatemala, the Ministry of Economy temporarily created the Interinstitutional Commission to Contribute to the Economic Reactivation of the Construction Sector, which will be integrated by representatives of nine entities.
The purpose of the Commission is to promote coordination actions among the Ministries and Institutions related to the construction sector, in order to streamline the administrative management of each one of them.
In Guatemala, the Chambers of Industry, Construction, Commerce and Agriculture agree that the reforms to the State Contracting Law constitute a step backwards in terms of transparency and open the door to greater opacity in public spending.
In April 2021, the deputies approved the amendments to Decree 57-92, which among other things allow for an increase in the amounts of direct and low value purchases.
Arguing that the reforms to the Contracting Law constitute a step backwards in terms of transparency, the Guatemalan business sector is asking President Alejandro Giammattei to veto what was approved by the Congress of the Republic.
In the last days of April 2021 the Guatemalan deputies approved the modifications to Decree 57-92, which among other things allow for the expansion of the amounts of direct and low value purchases.
The authorities in Guatemala informed that the importation and registration of used vehicles that are seven years old or older, and whose engine does not start, will not be allowed.
The importer or assistant of the Customs Agent duly accredited before the Customs Service, may request before the customs authority, if deemed appropriate, the authorization to carry out a permitted activity whose objective is the corroboration of the starting or ignition of the vehicle, informed the Intendencia de Aduanas.
In Guatemala, the Congress of the Republic approved the amendments to Decree 57-92, which allow for an increase in the amounts of direct and low value purchases.
With the favorable vote of 82 congressmen, the Plenary of the Congress approved this Wednesday night, April 28, Decree 4-2021, reforms to the Law of State Contracting, informed the Legislative Body.
For the possible commission of the crime of Tax Fraud, the Superintendence of Tax Administration intervened the commercial company J.I. Cohen.
The intervention was authorized by the Pluripersonal Court of First Criminal Instance in Tax and Customs Matters of the Municipality and Department of Guatemala, informed the Superintendence of Tax Administration (SAT).
Arguing that the measures applied by the government directly harm employees and owners of restaurants and bars, a group of businessmen in Guatemala filed a legal action in the Constitutional Court.
Restrictions to productive activity have already been applied for days, since with the purpose of promoting actions aimed at interrupting the epidemiological chain of the Covid-19 disease, on April 17 Ministerial Agreement 87-2021 was published in the Diario de Centroamerica, a regulatory framework that requires a 25% reduction in the capacity of shopping centers, shopping malls, convenience stores and restaurants.
Empresa Tomza Guatemala S.A. reported that in Nicaragua the government of President Daniel Ortega illegally expropriated and confiscated the company's assets, which together amount to $4 million in investments.
The expropriation process took several years. Tomza executives explained that in 2015 they were granted the permits for the construction of a property located in the municipality of Tipitapa, department of Managua.
Chang y Compania and Mag Alcoholes, are two companies that during March were audited by local authorities, after the detection of the possible crime of tax and customs fraud.
Representatives of the Superintendencia de Administración Tributaria (SAT) informed that on March 10, the Juzgado Pluripersonal de Primera Instancia Penal en Materia Tributaria y Aduanera ("Pluripersonal Court of First Criminal Instance in Tax and Customs Matters") ordered the intervention of the company Mag Alcoholes, and on March 22, the Juzgado Quinto de Primera Instancia Penal ("Fifth Court of First Criminal Instance") ordered the intervention of the warehouse Chang y Compania.
A few weeks before the new magistrates of the Constitutional Court take office in Guatemala, the business sector is asking that the new members of the highest court advocate for a real rule of law and provide legal certainty to investments.
In recent years, Guatemala's Constitutional Court (CC) has gained prominence in the country's economic sphere, as its rulings have affected different investments that were already operating locally.
Following the ruling of the Constitutional Court, the Ministry of Energy and Mines decided to temporarily suspend the rights of the Fenix mining company, located in El Estor, department of Izabal.
After multiple consultations, the Superintendency of Banks announced that virtual currencies or assets such as Bitcoin, Ethereum, Ripple and other similar ones, are not legal tender in the country.
The Superintendency of Banks, derived from the different consultations made by economic and financial agents regarding the use of virtual currencies or assets, known as cryptocurrencies, informs the population that in accordance with the Monetary Law, the monetary unit of Guatemala is the Quetzal and only the Bank of Guatemala can issue banknotes and coins within the territory of the Republic, therefore virtual currencies are not legal tender in the country, explains an official statement.
The Congress approved by articles and final wording the Leasing Law, a legal framework that establishes mechanisms for people to lease with option to purchase.
With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with option to purchase in the Guatemalan legislation, informed the legislative body.
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