Since 1995, through Executive Decree No. 3-95, the Real Estate Tax or IBI was established as a tax on real estate located within each Municipality. For IBI purposes, the following are considered real estate: Land, stable or permanent plantations, and fixed and permanent installations or constructions All assets that constitute real estate by their nature…
Category Archives: Blog
27
Jan
Jan
Prestigious Guatemala´s law firm BLP has been chosen by Insuralex Global Insurance Lawyers Group, a worldwide association of independent insurance and reinsurance lawyers, as its exclusive member firm in Guatemala. For more than ten years, BLP has provided legal counsel to both emerging and established companies on the best way to conduct business in Central…
Analysis, Blog, Business Law, Costa Rica, Regulatory Compliance, Prevention and Risk Management
Company obligations guide 2022
27
Jan
Jan
Learn about your annual compliance obligations in Costa Rica. Applies to all companies registered in Costa Rica, whether active or inactive. Due date for filing and payment: January 31st 2022. Last day for receiving funds at BLP: January 25, 2022. The annual amount to be paid by companies depends on the gross income declared in…
26
Jan
Jan
Renewal of Municipal Operational License in Nicaragua Since the first of January of each year, the Municipal Operational License that authorizes companies to operate their economic activity in a certain municipality is subject to renewal since it expired on December 31. As of last year, the procedures for this renewal became a little more complex…
25
Jan
Jan
Latin Lawyer and the Cyrus R. Vance Center once again recognize BLP as a Pro Bono Leading Light. This recognition highlights the commitment to the pro bono work of our lawyers while celebrating the notable contribution of Sustainability by BLP to strengthening the pro bono culture in Latin America. Several factors play a role in…
Blog, Costa Rica, Labor & Employment, News
Permission to exercise the right to vote in Presidential Elections without salary reduction
24
Jan
Jan
On February 6, 2022, the Presidential Election will be held. Any employee who must work that day may go to the polls to exercise the right to vote. Our Labor Code sets forth the obligation of an employer to grant employees the time necessary to appear before their electoral domicile and cast a vote without…
24
Jan
Jan
BLP has advised IDB Invest on its senior loan for up to US$70 million to Pantaleon S.A., to finance: (i) its industrial and agricultural fixed investment plans, including the implementation of green projects; and (ii) it is working capital needs, including advance payments to sugarcane producers. The main development objectives of the loan from IDB…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Obligation to update information for NGOs in Guatemala
18
Jan
Jan
In Guatemala, Decree number 4-2020 “Reforms to the Law of Non-Governmental Organizations for Development, Decree number 2-2003 of the Congress of the Republic of Guatemala and the Civil Code, Decree-Law number 106 of the Head of Government” entered into force, which establishes, among other provisions, the obligation of a Non-Governmental Organization (“NGO”), registered and operating…
At BLP, Blog, Costa Rica, El Salvador
BLP advises Cementos Progreso Holdings, S.L on the acquisition of CEMEX in Costa Rica and El Salvador
18
Jan
Jan
BLP has advised Cementos Progreso Holdings, S.L. on the $335 million acquisition of assets from Cemex, S.A.B of C.V. in Costa Rica and El Salvador. Our international teams performed due diligence and provided local legal advice on the signing of an agreement by Cementos Progreso Holdings S.L. (“Cementos Progreso”) to acquire the Costa Rican and…
Banking & Finance, Blog, El Salvador, News, Regulatory Compliance, Prevention and Risk Management
Modification to the Instructions for Qualifying Financial Institutions Not Domiciled in El Salvador
17
Jan
Jan
As of January 1, of this year, the new “Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Tax Law on the Transfer of Personal Property and the Provision of Services and Tributary Code” entered into force. These Instructions regulate tax benefits such as VAT exemption (currently 13%) and income…