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…
Category Archives: News
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
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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…
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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…
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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…
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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…
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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…
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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…
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Aug
Aug
On February 6th, 2018, the Legislative Assembly adopted the last amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. This is the sixth amendment that has been made to the Montreal Protocol, an agreement designed to phase-down the production and consumption of ozone-depleting substances, thereby reducing their potential release into the atmosphere….
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Aug
On December 3rd, 2018, the Legislative Assembly approved the Bill entitled Tax Reform – Law of Strengthening of Public Finances. The Bill includes two major amendments to the Costa Rican tax legislation. First, the Sales Tax Law would be completely changed, since it is intended to transform the actual Sales Tax into a Value Added Tax (VAT). The…
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Aug
Aug
The second Customs and Tax Amnesty in Honduras 2018 By Decree No. 51-2018 of June 6, 2018, the second Customs and Tax Amnesty of the present year was issued, published in the October 6, 2018 edition in the Official Gazette, containing the following benefits: Tax Regularization Customs and Tax amnesty Amnesty Honduran Institute of Social…