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The Guatemalan government could face a reduction of approximately 3.43 billion quetzales in tax revenue if proposed legislation to suspend two fuel-related taxes is enacted. The potential loss stems from initiatives currently under consideration that aim to eliminate the Value Added Tax (IVA) and the Tax on Petroleum Derivatives (IDP) for the final quarter of the year.
According to official sources, the suspension of these levies would significantly impact the national treasury’s collection efforts during the last three months of the year. The proposed measures are intended to address fuel consumption costs, though the fiscal implications remain a primary point of concern for government officials.
Article source: www.prensalibre.com | Image credit: www.prensalibre.com
