On June 24, 2024, Resolution Number SAT-SDI-1192-2024 of the Superintendence of Tax Administration SAT was published in the Official Gazette, whereby it resolves to declare June 24, 2024 and July 1, 2024 as non-working days for the purposes of calculating the deadlines established in the tax and customs legislation.
The Agreement becomes effective on June 24, 2024.
For further information please contact our offices.
Mario Salazar mario.salazar@gt.Andersen.com
Mauro Hernández mauro.hernandez@gt.Andersen.com
Evelyn Guerra evelyn.guerra@gt.Andersen.com
On May 27, 2024, Resolution JM-56-2024 was published in the Official Gazette by the Monetary Board, issuing the credit card regulations.
The following is a summary of the same:
The purpose of the law is to regulate what is related to payment capacity, disclosure of information, supervision and compliance with international standards of security in credit card operations, which must be complied with by banks, companies specializing in financial services and other entities supervised by the Superintendency of Banks, which issue and manage credit cards. For the purposes of this law, regulations such as payment capacity, supervised issuers, extra-financing, minimum payment and cardholder are defined and established.
For the calculation of the minimum payment, the supervised issuers will calculate the minimum payment monthly, by adding two percent (2%) of the outstanding balance of the credit line at the cut-off date, interest at the agreed rate, default interest, commissions and other agreed charges of the period and if there are overdue amounts of the minimum payments of the previous months. Notwithstanding the foregoing, the minimum payment, per currency, may not be less than two hundred quetzales (Q 200.00) or twenty-five United States dollars (US$25.00).
The terms for the calculation of the minimum payment in accordance with the provisions of article 59 of the Credit Card Law shall be as follows:
a)From March 1, 2025 to August 31, 2025, a factor of one percent (1%) shall be applied to the outstanding balance of the credit line as of the cutoff date.b)
From September 1, 2025 to February 28, 2026, a factor of one point five percent (1.5%) shall be applied to the outstanding balance of the line of credit at the cutoff date.c)
As of March 1, 2026, a factor of two percent (2%) will be applied to the outstanding balance of the credit line as of the cutoff date.The resolution became effective on May 27, 2024.
For further information, please contact our offices.
Mario Salazar mario.salazar@gt.Andersen.com
Mauro Hernández mauro.hernandez@gt.Andersen.com
Evelyn Guerra evelyn.guerra@gt.Andersen.com
On December 19, 2023, Government Agreement Number 307-2023 of the Ministry of Labor and Social Security was published in the Official Gazette.
Below is a brief summary of it:
The Executive Agency, through the Ministry of Labor and Social Security, agrees to modify the minimum wages for one daily work day, for agricultural and non-agricultural activities and export and maquila activities, remaining as follows:
Agricultural, Non-Agricultural, Export and Maquila Activities of the Economic District One "CE1" delimited to the department of Guatemala
MINIMUN WAGES 2024
Economic Activities
Ordinary Daytime
Daily Wage
Monthly Wage
Incentive Bonus
Total Wage
Agricultural
Q. 13.39
Q. 107.11
Q. 3,266.86
Q. 250.00
Q. 3,516.86
Non-agricultural
Q. 13.87
Q. 110.97
Q. 3,384.59
Q. 250.00
Q. 3,634.59
Exportation and Contracted Factory
Q. 12.68
Q. 101.41
Q. 3,093.01
Q. 250.00
Q. 3,343.01
Ø
Agricultural, Non-Agricultural, Export and Maquila Activities of the Economic District One "CE2" delimited for the rest of the departments of the Republic of Guatemala
MINIMUN WAGES 2024
Economic Activities
Ordinary Daytime
Daily Wage
Monthly Wage
Incentive Bonus
Total Wage
Agricultural
Q. 12.81
Q. 102.44
Q. 3,124.42
Q. 250.00
Q. 3,374.42
Non-agricultural
Q. 13.23
Q. 105.83
Q. 3,227.82
Q. 250.00
Q. 3,477.82
Exportation and Contracted Factory
Q. 11.98
Q. 95.80
Q. 2,921.90
Q. 250.00
Q. 3,171.90
The amount set to be applied for payment of the minimum wage is governed and determined by the place where the work center is located, in accordance with what is established by law and the employment contract. If it is not possible to determine a work center due to the nature of the service or the execution of the work, the place where the execution or provision of the same is usually carried out will be taken. If it is not possible to clearly determine the situations regulated in the previous cases, it will be determined by the place where the worker usually resides.
When, due to the peculiarities and nature of each job, payment of remuneration is agreed per unit of work or for participation in the profits, sales or collections made by the employer, in no case will workers who earn by piece or price be harmed. lump sum or piece rate, in accordance with the Law. Workers may under no circumstances have a minimum wage lower than that established in the Law.
The Agreement enters into force on January 1, 2024.
On December 19, 2023, Government Agreement Number 307-2023 of the Ministry of Labor and Social Security was published in the Official Gazette.
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Regional newsletter on the perspectives of Transfer Pricing at the Latin American level November 2023 that has been prepared by the Andersen Transfer Pricing Services team in LATAM
In the publication you will find relevant topics regarding Transfer pricing in some Latin American countries such as: Argentina, Colombia, Mexico, Paraguay, Peru.
For more information, download the newsletter .here
On July 19, 2024, Resolution of Superintendence Number SAT-DSI-1361-2024 was published in the Diario Oficial. This resolution establishes that all acts of the administration are public, and that all interested parties have the right to obtain
On July 8, 2024, Decree Number 13-2024 Temporary Law to extend the term for the payment of the Tax on the Circulation of Land Vehicles was published in the Diario Oficial.
The following is a brief summary of the same:
Article 1 is amended:
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