As of December 1, the Hyundai, Mazda, and Peugeot brands formerly controlled by different companies belonging to Grupo Tecún became part of the automotive portfolio of Grupo Q in Guatemala. BLP’s advice to Grupo Tecún on selling its automotive division to Grupo Q consisted of due diligence for the seller, participation in the auction process,…
Category Archives: Guatemala
21
Oct
Oct
Ruben Fuentes Senior Associate Guatemala [email protected] On August 31, 2022, Decree No. 40-2022, which contains the Law on Incentives for Electric Mobility, entered into force. Under this regulation, the aim is to promote the use of vehicles powered by electricity or hydrogen. Part of the objectives of the law above includes the mitigation of greenhouse…
Blog, Guatemala, Labor & Employment, News
El Salvador publishes a new orientation guide with preferential tax regimes
03
Oct
Oct
The Ministry of Finance has issued the new “general guide to facilitate the recognition of countries, states or territories with preferential tax regimes and tax treatment,” which will be in effect for the 2023 fiscal year. Under the provisions of article 62-A of the Tax Code, the guide facilitates the recognition of countries, states, or…
Blog, Guatemala, Labor & Employment, News
Modification of contributions to the IGSS for part-time work in Guatemala
29
Sep
Sep
The Board of Directors of the Guatemalan Institute of Social Security issued Agreement 1520 on August 4, in which it modifies the Regulation on the Collection of Contributions to the Social Security Regime, including the regulation of contributions in part-time work. Within the Agreement, the bases on which the quotas applicable to part-time work must…
Analysis, Blog, Free Trade Zones, Guatemala
How does the foreign capital investment promotion law in Guatemala work?
22
Sep
Sep
Ruben Fuentes Senior Associate Guatemala [email protected] In the next few days, Decree 46-2022 of the Congress of the Republic containing the Law for the Promotion of Foreign Capital Investment will come into force. With the new legislation, the Government of Guatemala seeks foreign investors to enjoy incentives, making the country attractive to the arrival of…
Blog, Energy & Infrastructure, Environment, Health & Safety, Guatemala, News
Law on Electric Mobility Incentives in Guatemala
11
Aug
Aug
On August 9, 2022, the Congress of the Republic of Guatemala approved Decree 40-2022, which contains the Law on Incentives for Electric Mobility offering tax inducements on the importation, sale, and use of electric vehicles or those that run on hydrogen, as well as hybrid cars. Tax benefits include exemption from the Value Added Tax…
Blog, Cybersecurity & Data Protection, Guatemala, News
Law on Prevention and Protection against Cybercrime in Guatemala
09
Aug
Aug
On August 4, 2022, the Congress of the Republic of Guatemala approved Decree 39-2022, which contains the Law on Prevention and Protection against Cybercrime. The law includes criminal sanctions for cyber activities that violate personal data, sensitive computer data, confidentiality, integrity, and availability of information and data stored in computer systems or systems that use…
Blog, Guatemala, News, Sanitary Registration of Products
Guatemala joins the information bank for the regional evaluation of medicines
08
Aug
Aug
On August 2, 2022, the Ministry of Public Health and Social Assistance announced adhesion to the regional mechanism for the joint evaluation of dossiers of medicines and related products for human consumption. With this adherence, the health regulatory authorities in charge of endorsing drug registrations in El Salvador, Honduras, Nicaragua, Costa Rica, Panama, and Guatemala…
Blog, Free Trade Zones, Guatemala, International Trade, News
Update in the Registry of Exporters for companies with operations in Guatemala
01
Aug
Aug
Compliance with tax obligations is essential to guarantee the continuity of commercial operations of any company. In the case of exporting companies, the current Guatemalan regulation requires that, no later than July 31, such companies update their compliance status with the Exporters Registry. The update constitutes an administrative tax obligation and enables the subsequent tax…
Blog, Environment, Health & Safety, Guatemala, News
New regulations in Guatemala for the prevention of COVID-19 in workplaces
20
Jul
Jul
On July 20, through Government Agreement 179-2022, the Ministry of Labor and Social Welfare established specific mandatory measures in the workplace to prevent COVID-19 infections, as follows. Employer Obligations: Ensure social distancing under the Health Alerts and Health Provisions System of the Ministry of Public Health and Social Assistance or use physical barriers. Clean work…