Guatemala Considering Repeal of Solidarity Tax and Introduction of Extraordinary Contribution

Guatemala's Congress is reportedly considering legislation that would repeal the current solidarity tax (Impuesto de Solidaridad – ISO), which is levied at a rate of 1.0% on net assets or gross income. At the same time, Congress is considering legislation for the introduction of an extraordinary contribution for the COVID-19 crisis that would essentially introduce an additional top individual i…
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