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Guatemala: Only Authorized Pension Funds to Deduct Taxes

The Superintendence of Tax Administration (SAT) clarified that it will only accept deductions on income tax from pension funds authorized by the Social Security Institute (IGSS).

Thursday, January 13, 2011

©image: sat.gob.gt

Omar Franco, collection manager of SAT, stated that under current law, banks and financial institutions do not have approved pension funds or retirement plans, and that those are investment funds or future schedule plans, but not pension funds.

"Tax Advisor Gladys Monterroso, recommends not to include contributions to saving fund accounts in banks, because the Constitutional Court could issue a final verdict that would have retroactive effect," informed Elperiodico.com.gt.

Source: elperiodico.com.gt

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Tax Authority of Guatemala Instituto Guatemalteco de Seguridad Social

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Pension Funds paying taxes income tax Tax declaration tax deductions Investment Funds Pension Funds Taxes

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