Guatemala has introduced new regulations regarding leasing transactions through Decree no. 2 of 2021. This includes certain tax rules for leasing income as follows for the lessor:
- Interest, price differentials, factoring expenses, and other financial charges must be recorded as ordinary taxable income;
- Leased assets must be recorded in the balance sheet as accounts receivable and amortized over the term of the leasing agreement;
- Invoices must be issued to the lessee including the VAT charge;…