Worldwide transfer pricing reference guide 2014

Guatemala (continued)
Documentation requirements (continued)
• Information regarding the intangible assets of the corporate group
• Description of the transfer pricing policy of the corporate group
• Intercompany service agreements subscribed by the companies of the corporate group
• APAs subscribed by the companies of the corporate group
• Annual report of the corporate group
• Taxpayer information:
• Identification of the taxpayer and its related parties
• Description of the intercompany transactions performed by the taxpayer
• Comparability analysis
• Description of the transfer pricing methodology applied
Documentation deadlines
Documentation must be readily available by the same due date of the annual income tax return. It must be kept as a part of the
company’s accounting books and records. If requested by the tax authorities, documentation should be provided within 20 days from the
receipt of the notice.
Statute of limitations on transfer pricing assessments
The statute of limitations on assessment is four years.
Return disclosures/related party disclosures
Taxpayers are required to attach their audited financial statements (expressed in IFRS from fiscal 2013 onwards) to the annual tax
return, which will include information regarding their intercompany transactions.
Transfer pricing-specific returns
Taxpayers are required to file, together with the annual tax return, a transfer pricing information return in the form of an Appendix.
Frequency of tax audit and transfer pricing scrutiny by the tax authority
The likelihood of a general tax audit is currently categorized as medium. The likelihood of transfer pricing assessments as part of a
general tax audit is low. The SAT has not yet initiated any tax audits regarding transfer pricing issues, due to the fact that the transfer
pricing regulations are new and are applicable from fiscal year 2013.
In case transfer pricing is scrutinized, the likelihood that the transfer pricing methodology will be challenged is medium.
APA opportunity
APAs are contemplated in Article 63 of the TLUL. Taxpayers can request an APA for a maximum of four years. The procedures for
setting out an APA are established in Articles 57 to 63 of the Regulations to the TLUL.
Expected reaction to OECD Report on BEPS
Transfer Pricing provisions are quite new in Guatemala, thus no immediate or short-term reaction is expected regarding specialized
topics covered in the OECD Report on BEPS.
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