Palladium is an international development implementer incorporated and located in the United States of America. Its registered entity in Guatemala implements health, education, nutrition and economic projects funded by USAID. Current programs include Creating Economic Opportunities (CEO), Data.FI, EpiC and soon Propel. Palladium Guatemala has offices in Guatemala City, Huehuetenango, and Quetzaltenango. In 2023, the company will have approximately 123 employees throughout Guatemala. Palladium currently operates in Guatemala as a non-profit organization.
Palladium is seeking an experienced external tax accounting firm, registered in Guatemala, to administer Palladium's tax and payroll reporting requirements as demanded by the Guatemalan Law and in accordance with USAID and Palladium rules and regulations. This includes the preparation and, as requested by the company, submission to the Guatemalan Government of all financial reporting requirements and those related to payroll administration. Palladium will be responsible for preparing the company's own internal reporting. The selected firm will also provide expert advice on tax filing and tax requirements for Palladium, including VAT issues.
The Consulting Firm will:
- Record Palladium Guatemala's Tax Accounting in accordance with current local legislation. This includes the preparation and, as requested by the company, the filing of all financial reporting requirements with the appropriate authorities. Palladium will be responsible for preparing the company's own internal reporting. The selected firm will use the company's internal financial records for the preparation of the reports or forms required by the Guatemalan government.
- Reconcile the accounts according to Palladium Guatemala's internal Financial Management System with the defined ledger accounts required by Guatemalan law.
- Prepare and review Palladium policies that are specifically and timely required in writing pertaining to international bank transfers and deposits, petty cash, salaries, bonuses, donations, classification of INCOME TAX and IGSS payments to ensure compliance with local financial regulations.
- Advise Palladium and its affiliate in Guatemala in the facts, situations and circumstances that are specifically and timely required in writing to ensure compliance with tax and labor obligations in accordance with Guatemalan law.
- Reconcile other accounts as required for tax reporting: advances to employees and consultants, VAT collection, tax revenue payables, employer, and employee’s payments to IGSS, other balance sheet accounts.
- Unify the accounting information of the projects and generate the accounting books required by the Guatemalan law (journal, general ledger, balance sheet, financial statements, and general integrations).
- Register and keep updated the books: journal, general ledger, balance sheet, and any other required by the Guatemalan law; printing them when appropriate.
- Prepare, review, and submit sales and purchase books.
- Advice on VAT exemption processes for specific donor-funded projects that are specifically and timely required in writing.
- Submit tax and labor reports to the government five days after receiving the relevant information and/or documentation from Palladium Guatemala staff. The timely delivery of the information by Palladium Guatemala will help the selected firm to meet the submission deadline required by the government at least five days before the deadline required by the government, including labor contracts and modifications.
- Prepare monthly and annual tax calculations for all employees, including employee terminations, all Employer, IGSS and ISR calculations and reports as well as prepare and update salary books of Palladium Guatemala employees.
- Prepare payroll administration records for each employee, including the reconciliation of employees' timesheets with payments.
- Keep relevant company personnel updated on any changes in tax and labor regulations through newsletters or any other means, that may apply to Palladium Guatemala, in the period immediately following the change is published as law, and, at the request of Palladium Guatemala staff, via email, train relevant company personnel on such changes.