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Guatemala Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
16,581,273 (July 2018 est.)GDP (PPP)
$138.1 billion (2017 est.)The most populous country in Central America with a GDP per capita roughly half the average for Latin America and the Caribbean
GDP growth rate
2.8% (2017 est.)Good growth rate and stable over the years
GDP (PPP) per capita
$8,200 (2017 est.)Very low. High income inequality.
Local currency
Quetzale (GTQ)Stable currency
Financial stability (Public debt)
24.7% (2017 est.)Very low and stable
Inflation
4.4% (2017 est.)A bit high, but quite stable
Language
Spanish (official) (69.9%) and Maya languages (29.7%)English is spoken as a second language in the main urban or touristic areas
Corruption perception index (Source: Transparency International)
Rank 144/180Very high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
12% standard VAT rateNo VAT on some goods/services
Corporate Tax
Two main systems: 1) 25% on net income, or2) Simplified optional system: 5% on gross income that ranges from 0 Guatemalan quetzales to GTQ 30,000 and 7% on the excess
Duties
Guatemala adopts Central American Tariff System (SAC)Customs duty rates on imported goods range from 0% to 20%
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