After inconsistencies were detected between purchases reported by taxpayers and sales that the company declared to the tax authority, an investigation was initiated in Guatemala into the "La Barata" supermarket chain.
During the morning of December 7, representatives of the Public Ministry (MP) and the Superintendence of Tax Administration (SAT), held a press conference in which they explained some details about a new case of alleged tax fraud by the chain of stores "La Barata."
With the reform approved by Congress, the airlines will avoid paying VAT and income tax twice.
The reforms that will come into effect in January 2021 were approved by Decree 2-2020, which received the endorsement of the Legislative on January 20.
In Guatemala, the Superintendence of Tax Administration completed the computer development phase of the platform, which will manage the new Electronic Regime for the Return of Tax Credit.
This computer development includes the registration for exporters who wish to adhere to this new Regime, as well as the implementation of the Electronic Form for Request for Return of Tax Credit Electronic Special Regime (SAT-2251), informed Agexport.
The changes that had been made to the Regulation of the Value Added Tax Law in Guatemala came into effect.
This is Governmental Agreement 222-2019 modifying the Regulation of the Value Added Tax Law, which contains provisions regarding the mechanisms for the recovery of the tax credit to exporters created by Decree 4-2019, informed the exporters' union.
Since November 4, 2019, the SAT Form 0471 entered into force in Guatemala to register in the new Electronic Regime for the Return of Tax Credit.
To apply to this mechanism, one of the requirements is to be incorporated into the Online Electronic Invoice Regime. According to Agexport, exporters of both goods and services are also eligible.
In Guatemala, 72 complaints have been filed against several exporters for alleged simulation of purchases to claim a refund of the tax credit from the SAT.
Businesspeople who are exporters of coffee and cardamom said that the Superintendency of Tax Administration (SAT) owed them more than $100 million in tax refunds, which correspond to requests made since 2011.
Changing how tax credits are returned is one of the proposals put forward in the reform of the rules for the VAT Act proposed by the tax authority.
Three years after the last modification to the regulations of the Law on Value Added Tax came into effect, it has been proposed that it be re-edited, in order to improve and streamline the audit processes.
Raising VAT from 12% to 15% and lowering income tax from 35% to 30% are part of the reforms that the Executive Branch is preparing to present to Congress.
Preliminary ideas being prepared by President Morales and a group of advisers also include incorporating the concept of world income.Although a formal document has not yet been submitted, the Executive has already started to give details of the proposal to members of Congress.
Companies operating under the Law for the Promotion of Export Activities and Maquilas will be able to deduct the VAT paid on electricity.
By presenting a certifying document to the Superintendency of Tax Administration (SAT) exporters will be exempted from paying VAT on their electricity bill, since it is a"...
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.
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.
Despite several announcements of new taxes, the government will focus on controlling tax evasion and leave the decision to implement a tax reform to future administrations.
According to authorities at the Ministry of Finance, at the moment there is no consensus for fiscal reform. The priority now will be to pursue and strengthen tax administration in order to meet budget expenditures this year.
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
español
8280
