On Monday, May 1, the countries of Central America celebrate International Workers Day (Labor Day), regulated in the region as follows: Guatemala: The holiday is a mandatory payment day. An employer must pay an employee who works on May 1 time and a half (1.5 times the ordinary salary) as compensation for the day. Honduras:…
Category Archives: Nicaragua
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holy week holidays in Central America – 2023
30
Mar
Mar
During the week of April 2 to April 9, Central America celebrates Holy Week, which entails the enjoyment of holidays regulated by each country as follows: Guatemala: The holidays, which begin at noon on Wednesday, April 5, and continue until the end of Saturday, April 8, are mandatory payment days when an employer must pay…
15
Mar
Mar
On February 23, 2023, the National Commission for the Minimum Wage in Nicaragua, presided over by the Labor Ministry of the Nicaraguan Government, approved the adjustment of the current minimum wages for all the sectors of the national economy to be in effect from March 1, 2023, through February 29, 2024, as follows: Economic Sector…
24
Nov
Nov
Michelle Avilés Senior Associate Nicaragua [email protected] A free transfer is when the donor (transferor) bestows a benefit or right without being paid, even though the transfer may be subject to the fulfillment of certain conditions, such as an inheritance, donation, or prize. The taxpayer in this type of conveyance is the party who accepts the…
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,…
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…
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…
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…
At BLP, Blog, Business Law, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua
BLP advises Barentz International on the acquisition of Divsa in Central America
29
Jun
Jun
BLP has advised its client, Barentz International, a global distributor of ingredients in the life sciences industry, on the acquisition of 100% of the shares of Distribuciones Industriales Variadas, S.A. (Divsa) in a significant transaction involving eight jurisdictions (Guatemala, El Salvador, Honduras, Costa Rica, the Dominican Republic, British Virgin Islands, Panama, and Mexico.) Divsa is…