The Governmental Agreement number 10-2017 the Ministry of Labor and Social Security of the Republic of Guatemala authorized the Agreement number 1377 of the Board of Directors of the Guatemalan Institute for Social Security -IGSS- which was published on the Official Gazette on January 31st, 2017 and will come into force as of February 1st, 2017.

In such agreement the Guatemalan Institute for Social Security -IGSS- has approved the exoneration of the charges regulated in the "Regulations for collection of Social Security regimen" for employers of the private and public sectors. Such exoneration include: procedural costs, legal interests, charges for late payment, additional administrative expenses and compensatory interests all embraced in the current regulations of IGSS.

The exoneration will be executed in accordance with the terms, conditions and percentages established in the Agreement number 1377. The term for this exoneration is of six (6) months; therefore it will expire on July 31st, 2017.