Transparency concept

In Executive Decree 617 published on December 20, 2018 we find the standard definition of transparency and economic substance: in article 6 of the Regulations for the Application of the Organic Law for Productive Development, Attraction of Investments, Employment Generation, and Stability and Fiscal Balance it is indicated that for all benefits to be applied they must be subject to the following criteria:

a) Transparency standard: Refers to the taxpayer’s duty to meet the information requirements of the Internal Revenue Service, in accordance with the minimum standards of the Global Forum on Transparency and Information Exchange for Fiscal Purposes.

b) Substance in the economic activity: It refers to the duty of the taxable person to maintain the documentation that reasonably supports the economic essence of its operations related to the incentives or benefits applied, in accordance with the provisions of article 17 of the Tax Code.

Transfer pricing alerts

Alert No. 001-2021-GT | 2021 Inspection process begins

Alert No. 001-2021-GT | 2021 Inspection process begins

The Superintendence of Tax Administration -SAT- started the transfer pricing audit process for the 2020 tax period. The aforementioned process begins with the sending of the first request for information to taxpayers that have carried out operations with related...

Events

Practical application of the PCNC Method in intragroup loans

Practical application of the PCNC Method in intragroup loans

TP Consulting Guatemala and TP Consulting Perú invite you to this interesting online training. In which we will have the special participation of Mónica Lovera from TP Consulting Perú who together with Luisa Loarca from TP Consulting Guatemala will teach the topic:...