1. How to do Business in Guatemala

2. Business Entities Anonymous societies with variable capital and physical persons could carry business

3. Business Administration Accounting requirements: Every tax payer must register an accountant with the Tax Authority, books must be kept under IFRS for SMEs, as adopted in 2011. Auditing requirements: Audit report just for big companies, exporters and tax exempted companies Year end close December 31

4. Taxation (basis and rates – overview only) Corporate taxes31% over profit (quarterly) or 5% over sales (monthly) Personal taxes31% over profit ( quarterly) or 5% over sales (monthly) Capital Gains 10% LossesCould not be carried forward Withholding taxes6% Double tax treatiesNone VAT/Sales taxes12% paid monthly Social Security12.67% for employers and 4.83% for employees Federal v Provincial 9/1000 over property value

5. Investment Incentives Tax subsidiesIncome Tax exemption for 10 years, VAT exemption for importing goods and equipment directly related to business for companies qualified under Decree 29-89 Drawback Law and Decree 65-89 Free Zone Law Other incentives

6. Important Commercial Legal Aspects (eg) Exchange controls: There is free commerce in all currencies, currency exchange keeps very stable Q. 7.85 for US $ 1.00, many bank offers and credit access Major labour laws: Christmas Bonus 8.33%, paid in December, Bonus 14 8.33% paid in June, both are one salary for every year worked, 15 working days of vacation after a whole year working and severance only in the case of unjustified dismissal, which is a full month salary for every year worked. Minimum pay: $ 310.00 very qualified employees, good knowledge of English and responsibility level Political stability: Very stable democracy, support to foreign investment, respect to private property Economic stability: Very stable, economic growth, good communications and infrastructure, two ways of access to sea ports in Atlantic and Pacific Ocean, spring time most of the year only a dry season November-April and rainy season May-October