Guatemala's Ministry of Finance has announced that legislation including a number of tax reform measures has been submitted to Congress. The main measures include:
- Increasing the corporate tax rate from 25% to 29%;
- Allowing the carry forward of ordinary operating losses for up to four years (currently, no carry forward allowed);
- Introducing accelerated depreciation for fixed assets; and
- Introducing a tax regularization regime.
Additional details of the reform measures will be published onc…