Guatemala: International Audit for Fiscal ManagementThursday, June 12, 2014 Discussion is being given to hiring an external company to provide consulting services in order to improve the management and collection of taxes. The proposal which emerged from the leadership of former Finance Minister Pavel Centeno, is once again gaining strength at a time when the Tax Authority is analysing different alternatives to raising tax revenue. Guatemala Trying to Control Grain PricesThursday, June 30, 2011 Officials are urging farmers to use quotas to avoid pushing the price of raw materials up further. In order to minimize the upward pressure on the cost of raw materials, whose high prices are making staple foods more expensive, the government is looking at promoting the use of quotas on production. Guatemala: New Taxes on Cement and TelephonyMonday, December 1, 2014 In order to finance the 2015 budget, Congress has approved a tax of $0.65 for the distribution of each sack of cement weighing 42.5 kg and the same amount for each mobile or fixed telephone line. Between the two taxes it is hoped that a total of approximately $2,607 million will be raised to finance the General Budget of the Nation in 2015. Guatemala: Business Owners Involved in CorruptionMonday, October 12, 2015 The General Attorney noted that the number of employers allegedly involved in customs fraud related to the case known as "The Line", could reach 1,500. An article on S21.com reports that after consulting the Attorney General over the possible flight of businesspeople, Thelma Aldana said that "it has been ruled out because they do not know 'who is going to be cited'. Container Terminal Quetzal to Start in February 2015Friday, December 18, 2015 The Guatemalan Tax Authority has announced that the start of operations at the terminal, originally scheduled for December, will now be in February 2016. Lack of a special dredging activities which must be carried out using machinery that will arrive in the country in January is the main reason for the delay to the start of operations. Guatemala: Drop in Cement and Mining Taxes In EffectTuesday, November 17, 2015 The controversial taxes on the distribution of cement and mining royalties fell from $0.65 to $0.19 and from 10% to 1%, respectively. With the publication of the new values in the official newspaper La Gaceta, an end has been put to the doubts that arose in companies over the fact that it was not clear what were the correct amounts for each tax, after the Constitutional Court declared that the mechanism by which initially the new taxes were set was unconstitutional. Guatemala: $45 million for Hospital SuppliesTuesday, November 17, 2015 The Ministry of Finance has approved a budget for the purchase of medical surgical supplies, medicines and treatment of solid waste. The resources are to be distributed among hospitals as per the needs of each one, and also used to pay for renting machines and basic services such as electricity and water. Guatemala: Fuel Plant Bought for $20 millionFriday, October 23, 2015 The multinational Maple Resources Corporation has acquired the fuel plant operating in Puerto San Jose, called Terminal Carburantes de Centroamérica. The US company which operates internationally also announced that in the next five years it will invest $10 million more in operating the fuel terminal. New Chamber of Intellectual Property in GuatemalaThursday, June 16, 2016 The union will focus on improving the rules on patenting and improving protection of intellectual property. The creation of the new Chamber also aims to encourage fair practices and help streamline processes followed when companies make complaints about products reproduced without authorization. S21.com.gt reports that "...The products most likely to be copied illegally are medicines, food, alcoholic beverages, clothing, videos, movies and music. " Guatemala: School Supplies for $120 millionFriday, January 16, 2015 The Ministry of Education has announced it will spend $120 million on the purchase of school meals, textbooks, educational materials and sports equipment during the year. Of the total amount $3.7 million will be allocated for the purchase of instructional textbooks, $94 million for school dinners, $13.9 million for free education and finally $8.4 million for the purchase of books. Guatemala: Bureaucracy and Environmental PermitsTuesday, June 9, 2015 The private sector claims that excessive paperwork and the lack of technical personnel in the Ministry of Environment is delaying the assessment of environmental impact studies and the granting of building permits. According to the Guatemalan Chamber of Construction, the slowness with which the studies are evaluated and permits granted to construction companies is preventing projects being carried out in the medium-term and moving towards recovery of the sector. Guatemala: $13 million for Ceramics FactoryWednesday, June 10, 2015 The Colombian firm Corona, owner of Standard Incesa announced that it will modernize the earthenware manufacturing plant operating in the municipality of San Miguel Petapa. The company currently operates three plants in Central America, with an installed production capacity of over one million pieces per year, comprising sanitary wares, faucets, accessories and ceramics. Guatemala: International Interest in Administrative CenterTuesday, June 2, 2015 The tender for the construction of an Administrative Center of the State is attracting building consortia from around the world, some of which are already operating in the country. The Spanish company Ortiz Construcciones y Proyectos, Odebrecht Investimentos e Participacoes, from Brazil, Inabensa Installations, from Span, Shikun & Binui Ltd., from Israel, and Consorcio CAE from Guatemala are construction companies with experience in works in Guatemalan territory, which have submitted documentation as expression of interest in bidding for the CAE. Guatemala to Import Staple FoodsMonday, September 1, 2014 The government has announced preparations for the purchase of food abroad to minimize the impact that drought has had on grain crops and their prices in the local market. The Ministry of Agriculture, Livestock and Food (MAGA) has announced that reserves established by the authorities will be sufficient to meet demand in September, but in October imports will be necessary. Guatemala: Interest Rate Lowered for Coffee Trust LoansWednesday, June 11, 2014 With the new regulations set to be approved in the coming days interest on loans granted by the trust will drop from 7% to 3% or 2%. The trust created last year to assist producers in mitigating the effects of rust will be modified in the coming days, once approval has been given to the pending regulations which include, among other changes, a reduction in the interest rates that are charged to the coffee growers for the loans. |
|