On January 25th of this year, the Law to Promote Employment Opportunities for People Over 45 Years of Age became effective, which establishes benefits for taxpayers who hire people over that age. They will be able to reduce 5% or 10% of their income tax, depending on whether they hire 10% or 20% of people…
Category Archives: News
17
Feb
Feb
The Tax Agreement Law requires all taxpayers registered under the general regime to declare and pay an annual Income Tax on Business Activities. Payable tax is the higher of: 30% over taxable net income of the year 2021; or Minimum Definite Payment of 1%, 2%, or 3%, as applicable, over the taxable gross income of…
17
Feb
Feb
On February 3, 2022, the National Commission for the Minimum Wage in Nicaragua, presided over by the Labor Ministry of the Nicaraguan Government, approved an increase in the current minimum wage for each sector of the national economy to remain in effect from March 1, 2022, through February 28, 2023, as follows: Economic Sector Percentage…
15
Feb
Feb
https://www.blplegal.com/blp-web-2021/wp-content/uploads/2022/02/events-Luis-Palacios.png Luis PalaciosAssociate Costa [email protected] What outdoor activities are allowed under the new Law? The new Law allows municipalities to issue licenses to sell food and beverages (including alcoholic beverages) in public spaces administered by municipalities, such as: Sidewalks. Parks. Squares. Municipal streets and roads. Other public places defined by the respective municipality. The authorization…
28
Jan
Jan
Since 1995, through Executive Decree No. 3-95, the Real Estate Tax or IBI was established as a tax on real estate located within each Municipality. For IBI purposes, the following are considered real estate: Land, stable or permanent plantations, and fixed and permanent installations or constructions All assets that constitute real estate by their nature…
26
Jan
Jan
Renewal of Municipal Operational License in Nicaragua Since the first of January of each year, the Municipal Operational License that authorizes companies to operate their economic activity in a certain municipality is subject to renewal since it expired on December 31. As of last year, the procedures for this renewal became a little more complex…
Blog, Costa Rica, Labor & Employment, News
Permission to exercise the right to vote in Presidential Elections without salary reduction
24
Jan
Jan
On February 6, 2022, the Presidential Election will be held. Any employee who must work that day may go to the polls to exercise the right to vote. Our Labor Code sets forth the obligation of an employer to grant employees the time necessary to appear before their electoral domicile and cast a vote without…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Obligation to update information for NGOs in Guatemala
18
Jan
Jan
In Guatemala, Decree number 4-2020 “Reforms to the Law of Non-Governmental Organizations for Development, Decree number 2-2003 of the Congress of the Republic of Guatemala and the Civil Code, Decree-Law number 106 of the Head of Government” entered into force, which establishes, among other provisions, the obligation of a Non-Governmental Organization (“NGO”), registered and operating…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Modification to the Instructions for Qualifying Financial Institutions Not Domiciled in El Salvador
17
Jan
Jan
As of January 1, of this year, the new “Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Tax Law on the Transfer of Personal Property and the Provision of Services and Tributary Code” entered into force. These Instructions regulate tax benefits such as VAT exemption (currently 13%) and income…
25
Nov
Nov
The Legislative Assembly approved in a second debate the law that seeks to encourage film investments in the country. This Law declares as public interest the attraction of investments by the international film industry in Costa Rican territory, its promotion, and the generation of productive chains. The importance of this Law relies on the positioning…