*Guatemala’s tax authority (SAT) has announced a major case of tax fraud to the tune of over Q$300m (US$39m), involving 410 companies which avoided paying value-added tax (VAT) and income tax, some of which had sold their goods and services to the state. The SAT has presented a complaint before the attorney general’s office which so far involves 32 of the companies involved. Guatemala has one of the lowest rates of tax take as a percentage of GDP in Latin America and the Caribbean (LAC), with a ratio of 14.4% in 2022 on the most recent figures from the Organisation for Economic Co-operation and Development (OECD), below the 21.5% LAC average. Only the Dominican Republic (13.9%), Panama (13.1%), and Guyana (10.6%) have a smaller ratio.
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LatinNews Daily - 15 August 2024
In brief: Guatemala’s tax authority uncovers major tax fraud
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