According to a 25 August 2016 announcement from the Guatemalan Ministry of Finance, recently submitted tax reform legislation has been withdrawn from congress at the request of the president. The legislation as submitted to congress ({News-2016-08-17/P/3- previous coverage}) includes a number of measures, including an increase in the corporate tax rate, allowing loss carry forwards, and others. The withdrawal is to allow additional time to consult with affected sectors, after which the legislation with any amendments will be resubmitted.