Costa Rica´s General Directorate of Customs authorized the beneficiaries of the tourist category temporary importation regime to extend their temporary import certificates for the authorized period of their immigration status established by the General Directorate of Immigration and Foreigners (Guideline DGA-005-2020 of March 24th, 2020) Scope: The extension will apply to land, air or water vehicles,…
Category Archives: News
24
Mar
Mar
1. Central Bank – Monetary Policy Measures – The Boards of Directors of the Central Bank of Costa Rica has approved the following measures: A reduction of the Monetary Policy Rate (“TPM” for its acronym in Spanish) by 100 basis points, to 1,25% annually, applicable as of March 17, 2020; A reduction of the interest…
24
Mar
Mar
The new Law of the Republic determines a moratorium on the payment of VAT, income tax advance payments, excise tax and import duties, during the months of April, May and June 2020. Upon the completion of the moratorium, taxpayers must pay the Ministry of Treasury the total amount due for taxes that should have been…
23
Mar
Mar
The government of Costa Rica, as a precautionary sanitary measure against the spread of COVID-19, has issued a new country wide mandatory order to close access to all Costa Rican beaches. Although several Municipalities had issued this measure in the last days, this is now mandatory for all the country. Non-compliance with these provisions shall…
19
Mar
Mar
As a consequence of the situation we are experiencing related to COVID-19, companies have taken a series of measures to try to avoid definitive dismissal of employees or even the complete cessation of operations. Among those measures is the suspension of employment contracts. Below we present in question and answer format, the most important issues…
13
Feb
Feb
Law No. 1,012, published on 12-19-2019, reforms the articles of Law No. 286 Special Law on Exploration and Exploitation of Hydrocarbons. Law No. 286 is the norm that regulates the exploration, drilling and other activities related to the search and potential extraction of oil, gas and other hydrocarbons in Nicaraguan territory. The main objective of…
04
Feb
Feb
Nicaragua’s Energy Industry was recently reformed by publication in the Official Gazette of Law 1,011 that amends Article 32 of Law 272, Law of the Electricity Industry. The amendment creates an exemption from all taxes on an activity that meets the following conditions: Sale of Electric Power, made by a Distributed Generator, to the Distribution…
23
Jan
Jan
On August 29, the Law for the Strengthening of the Competition Authorities was adopted in its second and final voting session. This Law aims to strengthen and improve the implementation of competition laws and policies by the Commission to Promote Competition (Coprocom) and the Superintendency of Telecommunications (SUTEL). This is a very comprehensive reform, comprising virtually all…
21
Jan
Jan
On January 3, 2020, the Ministry of Environment and Natural Resources decreed an extension of three years to the period of regularization of environmental instruments in Guatemala. Thus, existing projects have until December 16, 2022, to apply for their respective environmental license. The environmental instrument is a technical document in which environmental impacts and risks…
17
Jan
Jan
On January 9, 2020, the British deputies finally approved an agreement to implement the exit of the United Kingdom as a member of the European Union (BREXIT). More than three years after the referendum that marked a milestone in the history of the European community, the UK is ready to end a forty-seven-year regional integration….