On February 2024, Guatemala’s Superintendency of Tax Administration (SAT) declared that it introduced new informational fields regarding passive income to be included in the monthly income tax return (electronic form 1311) starting from January 2024. The Form 1311 is submitted by taxpayers registered for corporate income tax payment under the simplified optional income tax system. These new additional informational fields by SAT are compliant with article 30 of the tax code and directs individuals and companies to disclose information pertaining to their business activities.
The supplementary information introduced by SAT that are included into the section “3.1 Supplementary information on income from lucrative activities” of Form 1311 are as follows:
- Earnings from capital with final withholding on invoices;
- Earnings from capital with direct tax payment on invoices; and
- Other forms of capital income that are subject to final withholding (example: interest income).
The new additional information will be used for informational purposes regarding the passive taxable income received by the taxpayer. Additionally, the Form 1311 can’t be used to determine the taxable amount of taxpayers. Individuals and companies under in the simplified optional income tax regime must continue submitting their rtax payments for capital gains and other income from capital using Form 1321.
