Law Number 9786 to Combat Plastic Pollution and Protect the Environment which enters into force in six months after its recent publication in the newspaper La Gaceta, seeks a drastic reduction in the consumption of plastic items of a single-use in the country and their subsequent recycling in accordance with the principles of a circular…
Category Archives: News
Blog, News
Implementation of Compliance Programs to Mitigate Criminal Liability of Legal Entities for Corruption Activities
11
Dec
Dec
On June 6, 2019, the Congress approved the new Law for Criminal Liability of Legal Entities on Domestic Bribery, Transnational Bribery and other Crimes (“Law”), as part of the commitments acquired by the country to enter the OECD. According to the international standards, the Law imposes criminal liability on legal entities (national or foreign), and…
21
Nov
Nov
The new rules for the approval of mergers and acquisitions came into force. Law No. 9736 “Law on the Strengthening of Competition Authorities of Costa Rica” was published today. As reported in an earlier newsflash, this is the most ambitious reform of the competition protection system in the country since the enactment of the Competition Law almost…
Blog, News
Reform to the Law of the Financial Analysis Unit to reaffirm the inclusion of Lawyers and Notaries Public as Obligated Subjects in Nicaragua
21
Oct
Oct
On October 7, 2019, the full and amended text of Law 976, Law of the Financial Analysis Unit, was published. The reform was carried out by law 1,002 that was published on September 13 and follows the same policy line as Law 977, Law Against Money Laundering, passed a month earlier. This new reform closes…
21
Aug
Aug
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…
21
Aug
Aug
GAZETTE SUMMARY EXECUTIVE DECREES Update of the single tax by fuel type The Tax Authorities updated the amounts of the single tax by fuel type, as follows: Fuel Type Tax (colones) Regular Gasoline 241,25 “Super” Gasoline 252,75 Diesel 142,75 Asphalt 49,00 Asphaltic emulsion 36,75 Bunker Fuel 23,25 LPG 49,00 Jet Fuel A1 144,75 Av Gas…
21
Aug
Aug
GAZETTE SUMMARY EXECUTIVE DECREES Delays in granting benefits Article 5 of Executive Decree number 40540-H, called “Fiscal Contingency” was amended, authorizing a delay for granting the declarations of public interest, sports activity, or cultural interest, for activities or legal entities, by the different government entities that have the authority to grant it. The declaration of sports…
21
Aug
Aug
Gazette Summary ADMINISTRATIVE RESOLUTIONS Registrations, modifications or deregistrations of Taxpayers Through Resolution No. DGT-R-60.2017 of December 20, 2017, the Tax Administration clarified the necessary requirements and procedures for registration, modification or de-registration before the Taxpayers’ Registry. Likewise, the resolution details that, for economic activities, the Tax Administration adopted the Uniform International Industrial Classification (ISIC). The…
21
Aug
Aug
On January 21, 2019, a Bill was introduced to the Economic Affairs committee that would re-establish Costa Rica as one of the foremost countries in the conservation of natural resources and the fight against pollution. This project proposes an ambitious regulation that would prohibit public purchases of single-use plastics, prevent the production and import of…
21
Aug
Aug
Convention for the Harmonization of International Taxation on Commerce among the States Parties of the Central America Custom Union The Legislative Assembly has ratified the Convention for the Harmonization of International Taxation on Commerce among the State Parties of the Central American Customs Union. The purpose of this Convention is to harmonize the different taxes on…