On February 28, 2019, upon publication in the Official Journal, the Gazette, the Law of Amendments and Additions to law No. 822, Tax Agreement Law (Law No. 987), which modifies significant elements of the majority of the taxes contained in the Tax Agreement Law (hereinafter the “LCT”) entered into force. Subsequently, on March 15, 2019,…
Category Archives: Blog
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Aug
Aug
GAZETTE SUMMARY <h3″>EXECUTIVE DECREES</h3″> Incentives for Electric Vehicles The Regulations under the Law of Incentives and Promotion for Electric Transportation have been issued. The economic incentives for electric vehicles included in the Law are the following: Exemption from the General Sales Tax, proportional Exemption from the Excise Tax, proportional Exemption from the customs duties, proportional…
21
Aug
Aug
The Special Public Economic Development Zones (ZDEPs) in Guatemala emerged as a legal possibility after the reforms to the Law of the Santo Tomás de Castilla Free Zone (ZOLIC) were approved by a qualified majority of the Congress of the Republic in the year 2008. Notwithstanding the foregoing, and despite the existence of a regulation…
21
Aug
Aug
PUBLIC LAW Law of Concession of Maritime Terrestrial Public Domain Spaces This Law establishes the procedures, conditions, the term, and other requirements to obtain a concession of the maritime terrestrial public domain spaces and seaport exploitation by private parties: Scope: The Law will apply to the different projects of private exploitation of the maritime terrestrial…
Analysis, Blog
What are the benefits of the stay by special relevance and the temporary residence for foreign executives who enter Costa Rica?
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Aug
Aug
The high flow of immigration and the relocation of foreign employees managed by national and transnational companies in Costa Rica mean that there is a need to obtain work permits in the shortest possible time and with the least risks and contingencies for companies. When hiring foreign personnel for its work structure, a company must…
21
Aug
Aug
GAZETTE SUMMARY EXECUTIVE DECREES Applicable depreciation for photovoltaic panels The list of assets included in the Annex No. 2 of the Regulations to the Income Tax Law named “Depreciation Method and Percentages” was amended with the aim of acknowledging depreciation as a tax-deductible expense for Income Tax purposes as follows: Asset or activity Annual…
21
Aug
Aug
On November 28, 2018, the Law of Support for Micro and Small Enterprises entered into force, a law that seeks to promote the formalization of small and micro enterprises, in turn, providing benefits for their operation and functioning that favors them to achieve the desired economic growth. It is important to mention that prior to…
21
Aug
Aug
Interesting changes are taking place in the Honduran market, thanks to technological advances in the electric power sector, where consumers and commercial/industrial companies can install self-consumption electrical energy systems in order to reduce usage, protect the environment and especially to reduce the amount of the electric bill. This practice is being implemented by entry into force…
21
Aug
Aug
Social media represent new challenges for those of us who work in the field of Intellectual Property. The unauthorized use of trademarks and their counterfeiting occur today in an environment that requires a different approach. Social media, and particularly Instagram is the new “go to location” for the promotion and development of brands, through full interaction with consumers…
21
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…