The resolution issued by Constitutional Court on August 4, 2015 (file: 293-2013) regarding the action of unconstitutionality against some provisions of Decree 10-2012 (Ley de Actualización Tributaria) filed by the Guatemalan Chamber of Commerce and Chamber of Agriculture was published on August 24, 2015 in the Official Gazette.
The resolution declares unconstitutional article 84, section 3, paragraph b, subsection iii) of Decree 10- 2012 (Ley de Actualización Tributaria) that prescribed "The appraisals over real estate property made by the taxpayer." Such provision was thereby expelled from income tax regulations. As a result, appraisals or revaluations over real estate property made by the legal owners (taxpayer) will not be considered a capital gain. Thus, such revaluations will not be subject to Income Tax.
You may access the complete text of the resolution in Spanish by clicking here.