Guatemala allows airlines engaged in international transport services to deduct costs and expenses generated outside of Guatemala

On 10 February 2020, the Guatemalan Government published in the Official Gazette Decree 2-2020, which was approved by Guatemala’s Congress on 20 January 2020. The decree allows airlines engaged in international transport services to deduct costs and expenses generated outside of the Guatemalan territory that are necessary to provide transport services in Guatemala. The decree generally applies from 11 February 2020, but the income tax provisions will apply beginning 1 January 2021…