GAZETTE SUMMARY EXECUTIVE DECREES Applicable depreciation for photovoltaic panels The list of assets included in the Annex No. 2 of the Regulations to the Income Tax Law named “Depreciation Method and Percentages” was amended with the aim of acknowledging depreciation as a tax-deductible expense for Income Tax purposes as follows: Asset or activity Annual…
Author Archives: blp_admin
Blog, News
BLP Newflash: Important changes in legislation, political landscape in El Salvador / June 2018
21
Aug
Aug
Repeal of the Tax on Financial Transaction Law On May 28, 2018, the Supreme Court of Justice repealed the Tax on Financial Transactions Law (“TFTL”) which levies upon financial operations undertaken in El Salvador. The Supreme Court argued that the Legislative Assembly had violated the constitutional procedure for enacting laws because the text of the…
21
Aug
Aug
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…
21
Aug
Aug
On February 6th, 2018, the Legislative Assembly adopted the last amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. This is the sixth amendment that has been made to the Montreal Protocol, an agreement designed to phase-down the production and consumption of ozone-depleting substances, thereby reducing their potential release into the atmosphere….
21
Aug
Aug
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…
21
Aug
Aug
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…
Blog, News
Increase in the tax burden on the importation of juices, soft drinks and energy drinks in Nicaragua
21
Aug
Aug
Due to the reform of the Tax Agreement Law published on February 28, 2019, the tax burden on the importation of juices, soft drinks, and energy drinks increased both in the Value Added Tax (VAT) and in the Selective Consumption Tax (ISC): a) Value Added Tax Previously the tax was calculated on the customs value…
At BLP, Blog
BLP acted as legal advisor to Promerica Financial Corporation in the Debt Issuance of $200 Million
21
Aug
Aug
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…
21
Aug
Aug
Social media represent new challenges for those of us who work in the field of Intellectual Property. The unauthorized use of trademarks and their counterfeiting occur today in an environment that requires a different approach. Social media, and particularly Instagram is the new “go to location” for the promotion and development of brands, through full interaction with consumers…
21
Aug
Aug
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…