On December 3rd, 2018, the Legislative Assembly approved the Bill entitled Tax Reform – Law of Strengthening of Public Finances. The Bill includes two major amendments to the Costa Rican tax legislation. First, the Sales Tax Law would be completely changed, since it is intended to transform the actual Sales Tax into a Value Added Tax (VAT). The…
Author Archives: blp_admin
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Internet service providers advocate charging bandwidth-intensive internet companies and content providers. Unquestionably, net neutrality stirs up emotions. The origin of the concept dates to 1860, when the regulations governing communications between the Atlantic and Pacific states of the United States of America required that messages be transmitted with absolute impartiality observing the “first come, first…
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Acceptance of the Bill Proposed by the Costa Rican Ministry of Treasury On November 23, 2018, the Constitutional Chamber of the Supreme Court of Justice confirmed that the Bill entitled Tax Reform – Law of Strengthening of Public Finances has no vices of unconstitutionality; therefore, the Bill will continue its process until it becomes the Law of the Republic, which…
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GAZETTE SUMMARY <h3″>EXECUTIVE DECREES</h3″> Incentives for Electric Vehicles The Regulations under the Law of Incentives and Promotion for Electric Transportation have been issued. The economic incentives for electric vehicles included in the Law are the following: Exemption from the General Sales Tax, proportional Exemption from the Excise Tax, proportional Exemption from the customs duties, proportional…
At BLP, Blog
BLP acted as legal advisor to Promerica Financial Corporation in the Debt Issuance of $200 Million
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BLP acted as legal advisor to Promerica Financial Corporation as Issuer in the Debt Issuance of $200 Million. BLP reviewed the transaction in accordance with local legislation and analyzed the Final Offering Memorandum, the Indenture, Price Disclosure Documents, the Security and Pledge Agreement, the Custody Agreement and the Notes. In addition, BLP acted as legal…
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Tax Reform – Acceptance of the Bill Proposed by the Ministry of Treasury The special commission created for the approval of the tax reform, Bill N° 20580 – Law for the Improvement of Public Finances (the Bill), accepted, with votes from PLN, PAC, and PUSC, the proposed bill by the Ministry of Treasury a few…
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GAZETTE SUMMARY LAWS Exchange of information on tax matters between the Republic of Costa Rica and the States of Guernsey Through Law 9551 of May 9, the Legislative Assembly approved the whole text of the “Agreement between the Republic of Costa Rica and the States of Guernsey for the exchange of information on tax matters”….
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PUBLIC LAW Law of Concession of Maritime Terrestrial Public Domain Spaces This Law establishes the procedures, conditions, the term, and other requirements to obtain a concession of the maritime terrestrial public domain spaces and seaport exploitation by private parties: Scope: The Law will apply to the different projects of private exploitation of the maritime terrestrial…
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GAZETTE SUMMARY BILLS OF LAW Exchange of tax information between Costa Rica and the United Arab Emirates (UAE) In draft form, the “Agreement between the Republic of Costa Rica and the Government of the Arab Emirates for the elimination of double taxation on income taxes and capital gains, as well as the prevention of tax…
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The second Customs and Tax Amnesty in Honduras 2018 By Decree No. 51-2018 of June 6, 2018, the second Customs and Tax Amnesty of the present year was issued, published in the October 6, 2018 edition in the Official Gazette, containing the following benefits: Tax Regularization Customs and Tax amnesty Amnesty Honduran Institute of Social…