Revenues for the payment of income tax (ISR) totaled about Q10 billion ($ 1.27 billion), in 2011 according to the Superintendency of Tax Administration of Guatemala (SAT).
"The good results obtained by the companies are due to the recovery of the Guatemalan economy, and measures implemented to combat tax evasion by the SAT also helped the collection of income tax (ISR) to exceed Q 10 billion in 2011, an increase of 30 percent compared to the Q7.74 billion ($ 989 million) in 2010 , " published ElPeriodico.com.
Rudy Villeda, head of the SAT, said the increased tax revenues are due, on one hand, to more effective measures to combat tax evasion, and, secondly, the incorporation of more than 4,100 new taxpayers the provinces.
The superintendent noted that one of the measures to be taken this year to reduce tax evasion is "the implementation of electronic invoices for large and medium taxpayers," reported ElPeriodico.com.
Source: elperiodico.com.gt
More on this topic
August 2011
In the first half of the year revenues generated by taxes increased by 18% compared to the same period in 2010.
Value added tax and income tax grew the most in the aforementioned period, by 18% and 34% respectively.
While overall growth was seen, decreases were observed in the amounts collected from taxes such as the tax on tobacco and the distribution of oil and its derivatives.
September 2011
The coffee sector has announced its opposition to a proposal to establish a 5% surcharge on Income Tax (ISR in Spanish) for the agricultural sector.
A press release by Anacafé states:
The Guatemalan coffee industry via the National Coffee Association, Anacafe, has expressed concern about the establishment of a 5 percent surcharge on Income Tax,, referred to in the draft Anti-Evasion Act II which is now being considered in the Congress of the Republic. Political parties in their current campaigns have said that they will not raise taxes, their representatives in the legislative body have already made agreements to approve them.
December 2010
As of November tax revenues have increased $ 393 million over the same period in 2009.
In the first eleven months of the year tax collection totaled $ 4.247 million according to the Superintendence of Tax Administration.
"The tax which has generated more revenue to the Treasury in 2010 is the Income Tax (ISR) with $ 905 million" reports the article in Sigloxxi.com.
January 2012
Among other measures, the bill proposed by the government examines establishing regimes for income tax and eliminating accreditation for VAT returns, a method that has encouraged evasion.
The new Guatemalan government has refined its proposed fiscal law reform, which includes proposals such as removing the accreditation of the VAT tax and setting different levels for the deduction of income tax.
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