BLP has advised World Business Capital (WBC) on granting a loan to MULTI INVERSIONES BANCO COOPERATIVO DE LOS TRABAJADORES, S.C. DE R.L. DE C.V. (Mi Banco) for $10,000,000, backed by the U.S. Development Finance Corporation (DFC). Mi Banco will use the funds to expand its microenterprise financing activities to provide financial solutions that help and…
Category Archives: News
Blog, Environment, Health & Safety, Guatemala, Labor & Employment, News
Guatemala repeals regulations for the prevention of COVID-19 in workplaces
02
Feb
Feb
The Ministry of Labor and Social Welfare published Governmental Agreement No. 19-2023, which repeals the regulations contained in Governmental Agreement 179-2022 of the Ministry of Labor and Social Welfare for the prevention of COVID-19 in work centers. Therefore, the following provisions are no longer in effect and are no longer applicable to any work center….
01
Feb
Feb
On January 30, 2023, RES-DGH-001-2023 was published by which the amount of the tax established in Law No. 7972 was reduced by 0.49%, as follows: Percentage of alcohol by volume Tax (colones per milliliter of pure alcohol) Up to 15% 3.75 From 15% to 30% 4.51 Over 30% 5.25 These percentages apply as of February…
31
Jan
Jan
On January 30, 2023, Resolution RES-DGH-ONT-001-2023 was published, updating the requirements for exemption from real estate tax as follows: That the real property is unique, i.e., that such property is registered in the Real Estate Registry by the individual only. That the value of the property registered in the Municipality does not exceed ¢20,799,000. In…
Banking & Finance, Blog, Costa Rica, Environmental, Social and Governance (ESG), News
BLP advises on the issuance of the first sustainability-linked bond to finance the digital infrastructure of Costa Rica.
31
Jan
Jan
BLP has advised both Liberty Costa Rica in its capacity as issuer and IDB Invest as structuring bank on the issuance of a Sustainability Linked Bond (SLB) as part of the financing to Liberty Costa Rica for a total amount of $450 million to increase access to 4G and 5G digital infrastructure and broadband quality…
Blog, Global Mobility & Relocation, Guatemala, News
New requirements for Dominican Republic citizens to enter Guatemala
30
Jan
Jan
As of February 9, 2023, citizens of the Dominican Republic must obtain a Visa from the Guatemalan Consulate to enter Guatemala. Exempt from this provision are citizens of the Dominican Republic who have a valid Visa granted by the United States of America, the United Mexican States, Canada or the European Union (Schengen Visa). This…
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, Lawyers, News
Regional Holidays Calendar 2023
17
Jan
Jan
Our Labor & Employment team gathers the list of mandatory and non-mandatory paid holidays applicable to all Central American countries, ideal for Human Resources teams with operations in the region. Download
Blog, Costa Rica, News, Tax
Update of the Salary and Income Tax Brackets and Tax Credits as of January 1, 2023
05
Jan
Jan
On December 23, 2022, Executive Decree No. 43852-H was published in the official newspaper La Gaceta setting forth the new brackets of the single tax on income received for personal dependent work or retirement or pension and other remuneration for personal services (Salary Tax), the tax credits for individuals with lucrative activities (Tax Credits) and…
21
Dec
Dec
Listed below are the moveable national holidays for 2023 to enable employers to plan for next year: https://blplegal.com/blp-web-2021/wp-content/uploads/2022/12/Newsflash-Feriados-2023-en-CR_FB-IG-LNK-ENG-1024×1024.png At BLP we have a team that can assist you with the process. For more information contact us at [email protected] or through WhatsApp o Telegram at +506 6280 2269.
14
Dec
Dec
Our team specialist in Tax law shares the primary tax obligations for the 2023 fiscal year in Costa Rica. D-101 Income Tax Declaration Due within 2 months and 15 days after the closing of the company fiscal period. Taxpayers as defined in article two of Law No. 7092- Income Tax Law. Partial Payments of Income…