On February 23, 2023, Resolution MH-DGT-RES-0001-2023 modifying subparagraph e) of article 1 of Resolution DGT-R-36-2001, Reform of exempt operations related to exports established in article 11 of the Regulation of the Value Added Tax Law, was published. Consequently, effective as of February 23, 2023, for the transport services of goods destined for export to enjoy…
Category Archives: Blog
Blog, Guatemala, Labor & Employment, News
Hope for the Best, Plan for the Worst: Regulatory Changes in Guatemalan Social Security
23
Feb
Feb
The phrase, “Hope for the best, plan for the worst,” is one I heard in a spy movie, and searching for a title for this article, it occurred to me that we could use that phrase to identify the role played by labor consultants. There are many anecdotes. The companies that granted payments, bonuses, commissions,…
Blog, Guatemala, Labor & Employment, News
New Court will hear cases on disobedience for failure to comply with reinstatement and orders of the Labor and Social Security Courts
09
Feb
Feb
Through Agreement 33-2022, the Supreme Court of Justice created the “Pluripersonal Criminal Peace Court to hear the crime of disobedience of labor and social security resolutions”. The Agreement published on February 9, 2023, delimits the competence of the Court to hear the Crimes of Disobedience (Articles 414 and 420 of the Penal Code, depending on…
Banking & Finance, Blog, El Salvador, Environmental, Social and Governance (ESG), News
BLP has advised World Business Capital (WBC) on granting a $10 million loan to Mi Banco El Salvador
07
Feb
Feb
BLP has advised World Business Capital (WBC) on granting a loan to MULTI INVERSIONES BANCO COOPERATIVO DE LOS TRABAJADORES, S.C. DE R.L. DE C.V. (Mi Banco) for $10,000,000, backed by the U.S. Development Finance Corporation (DFC). Mi Banco will use the funds to expand its microenterprise financing activities to provide financial solutions that help and…
At BLP, Blog, Business Law, Costa Rica, El Salvador, Guatemala, Honduras
Avianca is LatinFinance’s Deal of the Year recipient for whom BLP advised restructuring more than $1 billion in debt
06
Feb
Feb
LatinFinance announced the winners of its annual Deal of the Year awards, for which our client Avianca’s transaction was recognized with the Corporate Restructuring award, restructuring more than $1 billion in debt. Through its offices in Guatemala, El Salvador, Honduras, and Costa Rica, BLP advised Latin American airline Avianca during its restructuring process. Colombian airline,…
Blog, Environment, Health & Safety, Guatemala, Labor & Employment, News
Guatemala repeals regulations for the prevention of COVID-19 in workplaces
02
Feb
Feb
The Ministry of Labor and Social Welfare published Governmental Agreement No. 19-2023, which repeals the regulations contained in Governmental Agreement 179-2022 of the Ministry of Labor and Social Welfare for the prevention of COVID-19 in work centers. Therefore, the following provisions are no longer in effect and are no longer applicable to any work center….
01
Feb
Feb
On January 30, 2023, RES-DGH-001-2023 was published by which the amount of the tax established in Law No. 7972 was reduced by 0.49%, as follows: Percentage of alcohol by volume Tax (colones per milliliter of pure alcohol) Up to 15% 3.75 From 15% to 30% 4.51 Over 30% 5.25 These percentages apply as of February…
31
Jan
Jan
On January 30, 2023, Resolution RES-DGH-ONT-001-2023 was published, updating the requirements for exemption from real estate tax as follows: That the real property is unique, i.e., that such property is registered in the Real Estate Registry by the individual only. That the value of the property registered in the Municipality does not exceed ¢20,799,000. In…
Banking & Finance, Blog, Costa Rica, Environmental, Social and Governance (ESG), News
BLP advises on the issuance of the first sustainability-linked bond to finance the digital infrastructure of Costa Rica.
31
Jan
Jan
BLP has advised both Liberty Costa Rica in its capacity as issuer and IDB Invest as structuring bank on the issuance of a Sustainability Linked Bond (SLB) as part of the financing to Liberty Costa Rica for a total amount of $450 million to increase access to 4G and 5G digital infrastructure and broadband quality…
Blog, Global Mobility & Relocation, Guatemala, News
New requirements for Dominican Republic citizens to enter Guatemala
30
Jan
Jan
As of February 9, 2023, citizens of the Dominican Republic must obtain a Visa from the Guatemalan Consulate to enter Guatemala. Exempt from this provision are citizens of the Dominican Republic who have a valid Visa granted by the United States of America, the United Mexican States, Canada or the European Union (Schengen Visa). This…