May 23, Central America. BLP excitedly announces the official launch of its new brand image. This precise and modern change reflects everything that BLP represents while reaffirming its commitment to excellence in corporate legal advice. Since our founding in 2003, BLP has redefined legal services in the region by acting as true allies that constantly…
Category Archives: News
Blog, Global Mobility & Relocation, Guatemala, News
The Congress of the Republic of Guatemala approves initiative 5082, which contains the “Framework Law for Consumer Defense and Protection”
15
Feb
Feb
With 122 votes in favor, the Guatemalan Congressman have approved initiative 5082, “Framework Law for Consumer Defense and Protection.” This approval marks a significant milestone for the country and its commitment to protecting consumer rights and clarifies procedures. This new regulation, which aims to replace the current Consumer and User Protection Law, seeks to regulate…
15
Feb
Feb
Obligation for Large Taxpayers to present audited financial statements The General Directorate of Taxation reformed Resolution DGT-R-46-2014*, regarding the obligation of Large National Taxpayers to present financial statements audited by an Authorized Public Accountant. In this way, those Large Taxpayers who, at the close of their fiscal period, determine a zero-profit tax, must provide, without…
Banking & Finance, Blog, Business Law, El Salvador, News
BLP advised Bancolombia and a consortium of Banks on a Syndicated Loan for US$700 Million
15
Feb
Feb
BLP has advised a group of several first-line creditors, including Banks from the following financial groups: Bancolombia, Davivienda, BAC, Aval, Banco Industrial, and Banco General, on a syndicated loan for US$700 million, granted to Grupo Calleja, the leading grocery retailer in El Salvador. The credit facility’s primary purpose is the acquisition by Grupo Calleja of…
Blog, Environmental, Social and Governance (ESG), Guatemala, News
Green Power: How ESG Practices Transform Corporations
14
Feb
Feb
ESG (Environmental, Social, and Governance) practices are becoming increasingly important. These three pillars, ranging from environmental sustainability and social responsibility to ethics in corporate governance, represent a change in how companies evaluate and conduct their operations. ESG practices are not just isolated or complementary initiatives. They are becoming essential components of business strategy. Their integration…
Blog, Costa Rica, Intellectual Property, News
Update of new RTCA for cosmetics in Central America, including Panama.
06
Feb
Feb
As of February 5, the new RTCA for registering cosmetic products will come into force, for which the following information must be included: In case a laboratory that is not a subsidiary or member of the same group is employed, a Manufacturing Contract (or manufacturer’s power of attorney as used in the case of Costa…
25
Jan
Jan
As of February 11, 2024, the Ministry of Foreign Affairs will charge a fee for the issuance of apostille or legalization certificates of documents. On January 13, 2024, Government Agreement No. 250-2023 was published in Diario de Centroamérica, authorizing the Ministry of Foreign Affairs to charge Q. 150.00 for each Apostille document or certificate of…
24
Jan
Jan
On January 24, 2024, MH-DGH-RES 0002-2024 was published, updating the requirements for exemption from the real estate tax, as follows: The property must be unique, i.e., that only a natural person has registered such property in the Real Estate Registry. That the value of the property registered with the Municipality does not exceed ¢20,799,000 (the…
19
Jan
Jan
On December 13, 2023, the Official Gazette published Decree No. 905, which reforms the Commercial Code to encourage legalizing the economy’s informal sector and reinvigorate micro and small businesses. Such reforms will become effective on February 11, 2024. Among its principal reforms is the Simplified Share Companies (SAS) provision intended to facilitate the incorporation of…
22
Dec
Dec
On December 8, 2023, Executive Decree No. 44276-H was published, whereby the income tax brackets that will apply during the 2024 tax period were updated, as detailed below: Salary tax Gross Salary From To Rate $ 0.00 ₡929.000,00 ($ 1,764.00 Aprox.) 0% ₡929.000,00 ($ 1,764.00 Approx.) ₡1.363.000,00 ($ 2,588.00 Aprox.) 10% ₡1.363.000,00 ($ 2,588.00 Approx.)…