Business Reforms in Guatemala
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Dealing with Construction Permits: Guatemala made dealing with construction permits more complicated and expensive by expanding the classification of projects requiring an environmental impact assessment.
Paying Taxes: Guatemala made paying taxes less costly by reducing the rate of corporate income tax.
Paying Taxes: Guatemala made paying taxes less costly for companies by reducing the corporate income tax rate.
Trading across Borders: Guatemala reduced the documentary and border compliance time for importing by making electronic submission of documents compulsory and eliminating the need for many hard-copy documents.
Starting a Business: Guatemala made starting a business easier by eliminating certain registration fees and reducing the time to publish a notice of incorporation.
Paying Taxes: Guatemala made paying taxes easier and less costly for companies by enhancing the electronic system for filing and paying corporate income tax and VAT and by reducing the capital gains and corporate income tax rates. On the other hand, it also made paying taxes more complicated by introducing a new form for capital gains tax.
Dealing with Construction Permits: Guatemala made dealing with construction permits easier by streamlining procedures through the creation of a one-stop shop, backed by agreements between institutions and agencies involved in the permitting process.
Paying Taxes: Guatemala made paying taxes easier for companies by introducing a new electronic filing and payment system.
Dealing with Construction Permits: Guatemala made dealing with construction permits easier by introducing a risk-based approval system
Dealing with Construction Permits: Guatemala made dealing with construction permits easier through a new land management plan that simplified the risk-based approval process for building permits and through new zoning regimes that speeded up the approval process.
Getting Credit: Guatemala strengthened its secured transactions system by creating a new movable asset registry that covers all types of movable assets as well as creditors and debtors and improved access to credit information by guaranteeing borrowers’ right to inspect their own data.
Paying Taxes: Guatemala made paying taxes easier for companies by expanding the category of businesses for which electronic filing and payment of value added and corporate income tax is mandatory and by extending the electronic system to most banks.
Getting Credit: Guatemala strengthened its secured transactions system through a new law creating a new form of pledge over movable assets and a registry for these pledges, allowing a general description of accounts receivable and inventory used as collateral and permitting parties to a security agreement to agree to out-of-court enforcement of the security right when signing the agreement.
Starting a Business: Guatemala reduced the time required for new company registration through full implementation of its one-stop shop.
Dealing with Construction Permits: Guatemala made dealing with construction permits less time consuming by accelerating the issuance of decisions by the Ministry of Environment and Natural Resources.
Registering Property: Guatemala reduced the time required to register property by allowing registrars to submit electronic signatures.
Trading across Borders: Guatemala made trading across borders easier by implementing a new electronic data interchange system, training customs staff and improving its risk-based inspection system.
Enforcing Contracts: Guatemala made enforcing contracts easier by increasing the maximum size of claims that can be brought to justices of the peace.