Ruben Fuentes Senior Associate Guatemala [email protected] In the next few days, Decree 46-2022 of the Congress of the Republic containing the Law for the Promotion of Foreign Capital Investment will come into force. With the new legislation, the Government of Guatemala seeks foreign investors to enjoy incentives, making the country attractive to the arrival of…
Category Archives: Blog
Blog, News, Nicaragua, Sanitary Registration of Products
Nicaragua bans the importation of electronic cigarettes
19
Sep
Sep
On September 6, the General Directorate of Customs Services issued the technical circular identified as CT/116/2022, informing the officials of the General Directorate of Customs Services and the public of the prohibition on the importation of electronic cigarettes and the obligation of importers and exporters of tobacco to register before the National Sanitary Regulation Authority….
Analysis, Banking & Finance, Blog, Business Law, Nicaragua
Nicaragua advances with Fintech regulation
16
Sep
Sep
Federico Barrios Director Nicaragua [email protected] Nicaragua has been regulating the application of technological tools in financial activities since, and to the extent that the local market requires the implementation of advances that allow more efficient processes in conducting operations with money. We understand the Fintech concept as everything related to technologies that allow financial innovation,…
15
Sep
Sep
On September 14, 2022, the Legislative Assembly of El Salvador decreed paid leave for workers from the public and private sector for September 16, 2022. If an employee works on this date, the employer must pay a surcharge of 100% on his/her salary. BLP has ample experience advising national and international companies on labor matters…
09
Sep
Sep
Favio Batres Director Mining Specialist Nicaragua [email protected] Mining is one of the strongest industries with the greatest growth potential in Nicaragua. According to Central America Data, gold exports in Central America reached an increase of 387% in 2021, and Nicaragua is in the lead with $1.534.3 billion from the United States, well above its peers…
Analysis, Blog, Costa Rica, Public Law, Public Procurement & Regulation
New Public Procurement Law in Costa Rica
02
Sep
Sep
Francisco Obando Director Public Law, Public Procurement & Regulation Costa Rica [email protected] On December 1, 2022, the new General Public Procurement Law will enter into force, repealing the Administrative Contracting Law No. 7494 of 1996 and its Regulations. As a result, all bidding participants, companies, and public administrations must seriously prepare to address the changes…
Analysis, Blog, Costa Rica, Environment, Health & Safety, Environmental, Social and Governance (ESG)
Legal reform allows the development of works near rivers and streams of Costa Rica
16
Aug
Aug
Luis Palacios Director Environmental Specialist Costa Rica [email protected] Costa Rica is a country with an abundant flow of water that brings scenic beauty and biodiversity and satisfies human needs. Despite their undeniable value, the rivers, streams, or natural reservoirs that run through private property sometimes pose heavy burdens to landowners due to the legal limitations…
12
Aug
Aug
Michelle Avilés Senior Associate Tax specialist Nicaragua [email protected] The onerous transfer (sale, exchange, etc.) of goods is subject to the payment of income tax for capital gains. As its name indicates, with certain exceptions, its generating event is the profits generated by the transfer of assets. As it is a tax on profits, for its…
Blog, Energy & Infrastructure, Environment, Health & Safety, Guatemala, News
Law on Electric Mobility Incentives in Guatemala
11
Aug
Aug
On August 9, 2022, the Congress of the Republic of Guatemala approved Decree 40-2022, which contains the Law on Incentives for Electric Mobility offering tax inducements on the importation, sale, and use of electric vehicles or those that run on hydrogen, as well as hybrid cars. Tax benefits include exemption from the Value Added Tax…
11
Aug
Aug
Michelle Avilés Senior Associate Tax specialist Nicaragua [email protected] Any property transfer, whether profitable or not, is subject to income tax on capital gain or loss. Although gratuitous transfers cannot generate capital losses, the calculation of the tax base of an unprofitable transfer may indicate that a capital loss has occurred in the transaction. Since a…