About Guatemala
Guatemala is Central America’s largest economy, offering a young workforce, growing textile and agricultural exports, and a strategic position linking North and South American markets.
Strategic Geographic Location
Guatemala is located in Central America, providing easy access to both the Atlantic and Pacific Oceans, making it a key hub for trade routes between North and South America. Its proximity to the United States and other major markets, combined with modern port infrastructure, makes it a strategic location for companies looking to expand in the region.
Young and Growing Workforce
Guatemala has a large and growing population with a relatively young workforce. This demographic advantage provides companies with a steady supply of labor, especially in industries like manufacturing, agriculture, and services. Labor costs in Guatemala are also lower than in many neighboring countries, making it a cost-effective location for production.
Diverse Economy with Key Sectors
Guatemala’s economy is diverse, with key sectors such as agriculture (notably coffee, sugar, and bananas), manufacturing, and textiles contributing significantly to its GDP. The country is also becoming increasingly important in services like business process outsourcing (BPO) and IT services, attracting investment from international companies.
Free Trade Agreements
Guatemala is part of several trade agreements, including the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) with the United States, as well as agreements with the European Union and other Latin American countries. These agreements provide Guatemalan products with preferential access to major global markets, making the country a strong export base.
CIT Return Due Date
March 31
CIT Payment Due Date
March 31
Resident Withholding Tax (Dividend/Interest/Royalty)
5/0/0
None-Resident Withholding Tax (Dividend/Interest/Royalty)
5/10/15
General VAT Rate
12
General Capital Gain Tax Rate
10%
Composite Effective Average Tax Rate
22.75%
Composite Effective Marginal Tax Rate
13.33%
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