Tuesday, 2 June 2020

Guatemala: More Taxes on Gasoline?

Combustibles-precios-gasolina-baja-precios_bajosCENTRAL AMERICA NEWS – Taking advantage of the low price of oil the government is discussing increasing the tax base on the distribution of petroleum and petroleum products.

The proposal seeks to raise the fuel tax which is currently around US$0.60 for gasoline and US$0.17 for diesel.

Moreover, the measure would also provide an increase in the rate for petroleum products such as kerosene, naphtha and liquefied petroleum gas.

Omar Franco, Superintendent of Tax Administration, told Prensalibre.com that “… The move is in response to the low price of a barrel of oil internationally, which has impacted heavily on tax revenues from VAT in respect to final consumption and the change in the exchange rate. ”

- paying the bills -

“… The taxable portion which applies to tax per gallon of gas is being analyzed, because the price is between $2.61, whereas in the last quarter of 2013 it was $4.71. That means the SAT collected VAT of $0.50 per gallon of gasoline when the pump price was $4.71. Now, with a cost of a gallon of super at $2.76, it collects $0.24. ”

Source: prensalibre.com

- paying the bills -
- paying the bills -
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

People with covid-19 affected by heavy rains will be placed in special shelters

(QCOSTARICA) People living in flood- or landslide-prone communities who are a...

Eruptions in Rincón de la Vieja volcano rose up to 2,000 meters above the height of the crater

The Rincón de la Vieja volcano, located between the cantons of...


Tropical Storm Amanda: At least 14 dead in El Salvador

Tropical Storm Amanda has killed at least fourteen people in El Salvador as heavy rains made rivers overflow, flooded city streets, and produced landslides,...

2020 Light Festival Suspended; Zapote in Doubt

(QCOSTARICA) San Jose mayor, Johnny Araya, this Thursday morning, announced the cancelation of the traditional year-end Festival de la Luz (Light Festival), held every...

Nicaraguan Government issues reciprocal sanitary measures for the entry of Costa Rican truckers

(QCOSTARICA) The Nicaraguan Government issued an agreement, which establishes reciprocal treatment for Costa Rican cargo carriers in its territory, in response to the measures...

No Signs of Normality in Latin America After Coronavirus Lockdown

The coronavirus lockdown is wreaking havoc on many economies, and in several Latin American countries, the curve seems far from flattening out. What are...

Abandoning ship: 30 Cabinet Minsters Gone in 2 Years

With the latest resignation of three ministers at the same time, the total abandoning the Carlos Alvarado playground is now 30 in his first...

United Continues Commercial flights to/from Costa Rica

(QCOSTRICA TRAVEL) Commercial flights to Costa Rica continue though the arrival of tourists is prohibited until June 15, and international flight arrivals are permitted...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.