Transfer Prices in Guatemala, regulations and formal obligations demanded by the SAT

Since 8 May 2013, the Guatemalan taxpayers are obliged to declare and value their operations with foreign related parties through the Annual Informative Statement of Transfer Prices, in accordance with what is established in the Article 65 of the Regulations included in the Governmental Agreement 213-2013 and the Chapter VI of the new Law of Tax Updating, Decree 10-2012.


The scope of the Guatemalan application of the regulations of the operation value between the related parties reaches any operation performed between the person resident in Guatemala with the one resident abroad and has effects in the determination of the tax basis in the period in which the operation is performed.


It has been established that the deadline for the Annual Informative Sworn Statement of the Transfer Prices will be on 31 March of the following year, 8together with the Annual Income Sworn Statement (ISR).


The fine for not presenting the inform of Transfer Prices could be up to q/10,000.00 plus the equivalent to 1% of the gross income obtained by the taxpayer during the last month in which his incomes were declared, in accordance with what is established in the Article 66 of the Governmental Agreement Number 213-2013 and the Article 94 of the Tax Code.