Guatemala New Tax environment for foreigners investing in Real Estate
According the art 97 of the tax income book 1 called : " ley de Actualizacion Tributaria" Decreto # 10-2012, and for the first time, are considered in the concept of generation act of income the tax contribution for non resident with or without a permanent situation on the Guatemalan territory.
Let's consider the non-resident without a permanent installation, for example, you bought a house here but you don't live in Guatemala and are not a legal resident neither, just under a tourist visa. Now you are require by law to pay tax for each income generated without compensation.
For the first time in Guatemala, in the tax doctrine is included the theory of Patrimony increment. According to the art. 84 numeral 3) of the new income tax law will be gain or loss of capital.:
- the ones resulting form any kind of transfer , sell, buy, permutation or any other forms of negotiacion of goods or rights.
- the reevaluation of the value of real estate, by tax payer