Decree 29-89 guarantee for suspended taxes and its release

Article 27 (as amended by Decree 19-2016) requires a guarantee covering the full amount of the suspended taxes, in the form of a cash deposit, general deposit warehouses authorized as bonded warehouses with a specific guarantee, a surety bond, a mortgage guarantee or a combination of these. The discharge (art. 28) is granted by customs once it verifies that the goods were used for the authorized purpose or were re-exported, exported or nationalized. The company must request the discharge from the tax authority (SAT) within 45 days of the Export Declaration, re-export declaration or FAUCA (art. 29); filing late costs a fine of US$100 (payable in quetzales) for each late declaration.

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