Just weeks after being sworn in on January 14 as the new Guatemalan president, Alvaro Colom, is facing challenges on the fiscal front. Although the administration aims to boost revenues without raising taxes, business leaders are up in arms over the extension of a controversial tax. Without it, however, Colom will have a tough time delivering on his promise to improve social conditions. The economy has been on Colom's side, with tax revenues rising and GDP expanding 5.7% last year -- the highest growth rate since 1977.
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"TAXING TIMES FOR A NEW PRESIDENT"Please download to view full document