top of page

Guatemala

Delivery:

Price: $

Payment methods:

payment methods.webp
UK comapny formation (1).webp

About

Guatemala

Capital
Official languages
Population 
Currency

ISO 4217

Guatemala City

Spanish

17,924,000

Quetzal

GTQ

Document checklist:

Process

Economy

Guatemala has a mixed economy that is largely based on agriculture, tourism, and remittances from Guatemalans living abroad. According to the World Bank, the GDP of Guatemala in 2019 was $112.3 billion, with a growth rate of 2.7%. The unemployment rate in Guatemala is 5.2%, and the inflation rate is 4.2%. The country has a poverty rate of 54.3%, with the majority of the population living in rural areas. Guatemala has a trade deficit of $3.2 billion, with exports totaling $10.3 billion and imports totaling $13.5 billion. The main exports of Guatemala are coffee, sugar, bananas, and cardamom. The main imports are petroleum, machinery, and electrical equipment. Guatemala has a Human Development Index (HDI) of 0.637, which is below the average for Latin America and the Caribbean.

Taxation

Taxation in Guatemala is regulated by the Tax Code, which establishes the tax laws and procedures for both corporate and personal taxation.


Corporate Taxation:

Companies registered in Guatemala are subject to a flat corporate tax rate of 25% on their net taxable income. In addition to corporate tax, companies may also be subject to other taxes such as value-added tax (VAT), payroll tax, and municipal taxes.


Personal Taxation:

Individuals who are resident in Guatemala are subject to a progressive income tax system with tax rates ranging from 5% to 31% depending on their income level.


Tax Payment Process:

The tax year in Guatemala runs from 1st January to 31st December of the same year. Both individuals and corporations are required to file their tax returns annually, with the deadline for filing being in April of the following year.


Taxpayers can make their payments at any authorized bank or online through the Guatemalan tax authorities' website. In addition to income tax, taxpayers may also be subject to other taxes such as property tax, stamp tax, and customs duties.


It is important to note that Guatemala has implemented a tax reform that includes new measures to combat tax evasion and strengthen tax administration, such as mandatory electronic invoicing and the creation of a tax authority with more powers to monitor and enforce tax compliance.


In summary, the tax system in Guatemala includes a flat corporate tax rate of 25% for companies and a progressive income tax system for individuals, with tax rates ranging from 5% to 31%. The tax year runs from January 1st to December 31st with the deadline for filing tax returns being in April of the following year. Taxpayers can make their payments at any authorized bank or online through the Guatemalan tax authorities' website.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

Submit ✉

Your inquiry has been submitted. Thank You!

We will contact you shortly…

PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

bottom of page