Lawyers, Public Notaries and their new designation as Mandatory Subjects under Law No. 977, Law against Money Laundering (LA / FT / FP). As of 2019, Nicaraguan lawyers and notaries public become part of the National System: Against the Laundering of Assets, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction….
Author Archives: blp_admin
01
Jan
Jan
New rules were established for the letter of exception to the sanitary vehicle restriction*: As of August 1, all letters of exception to the restriction of sanitary vehicles must be re-issued, indicating the new date on which they were written. These letters will be valid for two months, starting from their date of issue. Such…
01
Jan
Jan
We must prepare ourselves to implement the changes that are required at the organizational level, related to the Supreme Electoral Tribunal Decree that will be published at any time in the Gazette, which gives the possibility of changing a name in accordance with gender self-determination to which each person is entitled. Workplace preparation should focus…
01
Jan
Jan
As previously indicated, the deadline to file the 2020 sworn statement for the Transparency and Final Beneficiaries Registry was initially moved up to September, 2020. The Tax Authorities and the Costa Rican Drug Institute, however, issued a new resolution, in light of the continuous irregular situation generated by COVID-19. This new resolution, numbered DGT-ICD-R-19-2020, ordered…
Blog, News
Resolution of the Costa Rica´s Customs Directorate on documentary and / or physical review with photocopies in Costa Rica
01
Jan
Jan
During the term of the State of National Emergency, the Costa Rica´s Customs Directorate authorized the documentary and physical verification of the documents and merchandise with copies, impressions or simple photocopies of the documents required by each regime and modality. Responsibility: The Auxiliaries of the Customs Public Function, importers and exporters, as indicated by law,…
01
Jan
Jan
On Saturday, March 21, 2020, the Legislative Assembly of Costa Rica approved the law that allows employers to reduce the hours and wages of workers, as a measure of relief and support in the face of the Coronavirus pandemic. The law is to give an employer the ability to cut wages and hours by 50%,…
01
Jan
Jan
As we face economic reactivation processes, BLP’s Global Mobility & Relocation team provides you with this series of resources on the most relevant migration aspects of Central American countries and how you can incorporate new foreign executives in the region. Immigration aspects of same-sex marriage in Costa Rica. Costa Rica: an attractive country for the…
01
Jan
Jan
For reasons of force majeure, or public interest, the Public Administration can declare the suspension of a contract (article 210 of the Public Contracting Regulations), the suspension of the contract’s term (207 of the Public Contracting Regulations) or even revoke the contract (article 11 of the Public Contracting Law and article 214 of its Regulations,…
Blog, News
Ministry of Finance issues resolution to apply for an extension of the maximum deducibility limit for non-bank interest.
01
Jan
Jan
Article 9bis of the Income Tax Law determined the maximum deducibility limit for non-bank interest, which is 20% of the profit before interest, taxes, depreciation, and amortization (EBITDA). Likewise, this article established that the Treasury has to regulate the procedure for the taxpayer to apply a different limit for the deductibility of net interest expense…
01
Jan
Jan
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…