Moratorium on sanctions is established for 3 months. The fines that were suspended amount to 2% of gross income of the previous fiscal year, with a minimum of 3 base salaries and a limit of 100 base salaries. On January 29, 2020, the plenary of the Legislative Assembly approved a moratorium for the application of…
Category Archives: Blog
01
Jan
Jan
As part of the economic reactivation measures proposed by the Government of Guatemala before COVID-19, on April 17th, Decree 18-2020 came into effect, through which the Congress approved the loan granted by the Central American Bank for Economic Integration – BCIE (for its acronym in Spanish)- for an amount of USD$ 193,200,000.00 for the execution…
01
Jan
Jan
In a follow-up to measures to reduce work shifts and suspend employment contracts, we remind our clients that, if the causes for which they requested the authorization of the measures due to the emergency continue, they may consider extending the period of the reduction of the work shifts or suspensions of the employment contracts. To…
01
Jan
Jan
GAZETTE SUMMARY BILLS OF LAW Strengthening of Public Finances This bill of law intends to transform the current Sales Tax into a Value-Added Tax that would apply to all services. In addition, it presents important amendmentsto the Income Tax Law, such as the tax on capital gains. (Published in the Digital Appendix No. 120 of…
01
Jan
Jan
Definition. What is contract rescission (termination)? It’s an unusual cause for contract termination. It’s caused by a variation in the agreed essential conditions which prevent contract performance, such as fortuitous event, force majeure or public interest reasons. Theses causes must be justified or proven. Termination is total. The parties dispense with the initial terms of the contract….