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Guatemala to Penalize Tax
Evasion
The Guatemalan Congress has
finally passed a law to punish
tax evasion, which will result
in increased State income of 135
million dollars annually.
After previous failed attempts,
Guatemalan parliamentarians
reached consensus and elaborated
the legal instruments to punish
tax evaders.
The law establishes tax payment
regulations on the exporting
sector, credit card operators,
and public institutions.
Guatemala has the lowest taxes
in the continent, less than 12
percent of the Gross National
Product, with State incomes even
more affected by widespread tax
evasion.
According to the UN Development
Program, tax revenues should be
at least 12 percent of the GNP
for the government to pay
efficient attention to health,
education, and security.
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