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…
Category Archives: News
21
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…
23
May
May
New Changes to E-Commerce Regulations This past October, a specific chapter was included in the Law to Promote Competition and Effective Defense of Consumers Regulations, in connection with “Consumer Protection in the context of E-Commerce”. The main areas affected by this reform are the following: Advertising on websites: There is now a list of mandatory information…
Blog, News
Ministry of Finance issues resolution to apply for an extension of the maximum deducibility limit for non-bank interest.
01
Jan
Jan
Article 9bis of the Income Tax Law determined the maximum deducibility limit for non-bank interest, which is 20% of the profit before interest, taxes, depreciation, and amortization (EBITDA). Likewise, this article established that the Treasury has to regulate the procedure for the taxpayer to apply a different limit for the deductibility of net interest expense…
01
Jan
Jan
Lawyers, Public Notaries and their new designation as Mandatory Subjects under Law No. 977, Law against Money Laundering (LA / FT / FP). As of 2019, Nicaraguan lawyers and notaries public become part of the National System: Against the Laundering of Assets, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction….
01
Jan
Jan
New rules were established for the letter of exception to the sanitary vehicle restriction*: As of August 1, all letters of exception to the restriction of sanitary vehicles must be re-issued, indicating the new date on which they were written. These letters will be valid for two months, starting from their date of issue. Such…
Blog, News
The Government of the Republic of Guatemala issues a Plan of National Strategy to reopen activities in the country
01
Jan
Jan
On June 2nd, 2020, the Ministry of Public Health and Social Assistance published the Ministerial Agreement 144-2020 which contains the national strategy for controlling the epidemic COVID-19 and the conditions of confinement to complement the presidential provisions dated May 31st, 2020 that were published on June 1, 2020 and which ratified the validity of the…
01
Jan
Jan
From Friday, April 3 to Tuesday, April 7, restrictions on vehicle circulation will be extended from 5:00 p.m. to 5:00 a.m. throughout the national territory (see chart below). The following exceptions apply: Long-distance public transportation covering more than 75 kilometers will be limited to two departures daily. Establishments operating with sanitary permits for direct service to the public…
01
Jan
Jan
Opening of Mercantile Registries located in the Chamber of Commerce and Industries of Cortés and Chamber of Commerce and Industries of Tegucigalpa The Property Institute informs the population that the Commercial Registries located in the Chamber of Commerce and Industries of Cortés and the Chamber of Commerce and Industries of Tegucigalpa will open their doors…
01
Jan
Jan
As previously indicated, the deadline to file the 2020 sworn statement for the Transparency and Final Beneficiaries Registry was initially moved up to September, 2020. The Tax Authorities and the Costa Rican Drug Institute, however, issued a new resolution, in light of the continuous irregular situation generated by COVID-19. This new resolution, numbered DGT-ICD-R-19-2020, ordered…