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What ongoing obligations and penalties apply to a company qualified under Decree 29-89?

According to the cited documentsImporting machinery

Fine for diverting goods

100% of the unpaid taxes

In forceDecreto 29-89 art. 41

Selling or using admitted goods for any other purpose (art. 41) carries a fine of 100% of the unpaid taxes, with joint liability for seller and buyer; destruction outside the primary customs zone triggers payment of the taxes unless proven force majeure (art. 42). Ongoing obligations (art. 33) include starting production within the term set in the resolution, filing a monthly electronic sworn declaration of the running goods account within the first 20 days of each month, the social security (IGSS) payroll return, and accounting with perpetual inventory. Failure to comply with IGSS suspends the benefits for 2 to 6 months, with permanent loss on a repeat offense (art. 43 bis); the Ministry of the Economy (MINECO) revokes qualification on its own motion for failure to start production, closure or bankruptcy, or non-compliance (art. 43).

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  • Suspension for social security non-compliance2–6 months; permanent loss on repeat offenseIn forceDecreto 29-89 art. 43 bis

Sources

  • MINECO

    Texto del Decreto 29-89 con reformas

    mineco.gob.gtAccessed Aug 19, 2026Go to the source