How is Guatemala's Solidarity Tax (ISO) computed under the statute?

The Solidarity Tax Act (Decreto 73-2008, published in the Diario de Centro América No. 87 of 22 December 2008, in force from 1 January 2009 under its art. 15) applies to individuals and legal entities, trusts,… participation contracts, irregular and de facto partnerships, branches,… agencies and permanent establishments of foreign persons (art. 1). The taxable base is the greater of one quarter of net assets and one quarter of gross income; when net assets exceed four times gross income, the gross-income base applies (art. 7). The rate is 1 % (art. 8). The original text also carries the exemptions (art. 4) and the settlement of the IETAAP it replaced (art. 14).