Guatemala: Inheritance
In Depth
- Overview
- Price History
- Rental Yields
- Taxes and Costs
- Buying Guide
- Landlord and Tenant
- Inheritance
- Living There
- Useful Links
- Country Statistics
Find Property
Directory
Global Statistics
Regional Statistics
- Buy/Sell Costs
- Capital Gains Tax
- Landlord & Tenant Law
- GDP Per Capita
- GDP/Cap Growth 1 yr
- GDP/Cap Growth 5 yrs
- Economic Freedom
- Ec. Freedom 5 yrs
- Competitiveness
- Property Rights Index
- Currency +/- Value
Last Updated: Mar 16, 2009
Inheritance tax and law
INHERITANCE TAX (impuesto de herencias, legados y donaciones)
Inheritance tax is levied at progressive rates depending on the value of the taxable inheritance and the relationship between the deceased and the heir.
Classification of Heirs or Beneficiaries:
- Category I: spouse, child
- Category II: direct ascendant, grandchild, great-grandchild
- Category III: brother, sister
- Category IV: niece, nephew, uncle, aunt
- Category V: first cousin
- Category VI: in-laws, step relative
- Category VII: others
INHERITANCE TAX |
|||||||
| TAX BASE, GTQ (US$) | TAX RATE ON DIFFERENT CATEGORIES | ||||||
| I | II | III | IV | V | VI | VII | |
| Up to 50,000 (US$6,191) | 1% | 2% | 3% | 5% | 7% | 9% | 12 |
| 50,000 - 100,000 (US$12,382) | 2% | 3% | 4% | 6% | 9% | 10% | 14% |
| 100,000 - 200,000 (US$24,763) | 3% | 4% | 5% | 7% | 10% | 11% | 16% |
| 200,000 - 300,000 (US$37,145) | 4% | 5% | 6% | 8% | 11% | 12% | 18% |
| 300,000 - 500,000 (US$61,908) | 5% | 6% | 7% | 9% | 12% | 13% | 20% |
| Over 500,000 (US$61,908) | 6% | 7% | 8% | 10% | 13% | 14% | 25% |
| Source: Global Property Guide | |||||||
The taxable inheritance is based on the estate’s market value or officially assessed value less the following:
- The marriage portion of the surviving spouse
- Debts owed by the decedents
- Liens and obligations of the transfer of the property at the time of death (as substantially documented)
- Last illness and funeral expenses
- Professional fees and testamentary expenses
- Compensation received by the heirs on the account of the death
- Up to GTQ1,000 (US$130) paid by savings and special insurance funds
- Amounts received from life insurance funds
- Mandatory alimonies
- Copyright royalties
- Public funds where specifically exempt
- Money deposits with Guatemalan-resident banking and saving institutions
The beneficiary is the one liable to pay the tax on his inheritance. Each Category I and II beneficiary can deduct an allowance of GTQ500 (US$62). For Category I and II recipients who are less than 12 years old, the allowance is GTQ1,000 (US$124). Category III to VII recipients can each deduct an allowance of GTQ300 (US$37).
Guatemala - more data and information
Post a comment
Subscribe to our Newsletter!
Enter your email address to sign up.
RSS
Your Comments
Be the first to comment!