On January 9, 2020, the British deputies finally approved an agreement to implement the exit of the United Kingdom as a member of the European Union (BREXIT). More than three years after the referendum that marked a milestone in the history of the European community, the UK is ready to end a forty-seven-year regional integration….
Tag Archives: Costa Rica
Law Number 9786 to Combat Plastic Pollution and Protect the Environment which enters into force in six months after its recent publication in the newspaper La Gaceta, seeks a drastic reduction in the consumption of plastic items of a single-use in the country and their subsequent recycling in accordance with the principles of a circular…
The new rules for the approval of mergers and acquisitions came into force. Law No. 9736 “Law on the Strengthening of Competition Authorities of Costa Rica” was published today. As reported in an earlier newsflash, this is the most ambitious reform of the competition protection system in the country since the enactment of the Competition Law almost…
Since the entry into force of the Law for the Protection of the Person against the Processing of their Data (Data Law), the importance of this topic in Costa Rica has increased. Likewise, the risk assumed by companies when handling personal information is increasing. In the past year alone, the Data Protection Agency (PRODHAB) has…
On January 21, 2019, a Bill was introduced to the Economic Affairs committee that would re-establish Costa Rica as one of the foremost countries in the conservation of natural resources and the fight against pollution. This project proposes an ambitious regulation that would prohibit public purchases of single-use plastics, prevent the production and import of…
The telecommunications giant, Millicom – which operates under the Tigo trademark in Central America – has acquired all of Telefónica’s subsidiaries in Costa Rica, Nicaragua and Panama. Together with Davis Polk, BLP advised its client throughout the acquisition process, from the elaboration of the due diligence study and the regulatory analysis of the transaction to…
On December 3rd, 2018, the Legislative Assembly approved the Bill entitled Tax Reform – Law of Strengthening of Public Finances. The Bill includes two major amendments to the Costa Rican tax legislation. First, the Sales Tax Law would be completely changed, since it is intended to transform the actual Sales Tax into a Value Added Tax (VAT). The…
Acceptance of the Bill Proposed by the Costa Rican Ministry of Treasury On November 23, 2018, the Constitutional Chamber of the Supreme Court of Justice confirmed that the Bill entitled Tax Reform – Law of Strengthening of Public Finances has no vices of unconstitutionality; therefore, the Bill will continue its process until it becomes the Law of the Republic, which…
Tax Reform – Acceptance of the Bill Proposed by the Ministry of Treasury The special commission created for the approval of the tax reform, Bill N° 20580 – Law for the Improvement of Public Finances (the Bill), accepted, with votes from PLN, PAC, and PUSC, the proposed bill by the Ministry of Treasury a few…
On February 6th, 2018, the Legislative Assembly adopted the last amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer. This is the sixth amendment that has been made to the Montreal Protocol, an agreement designed to phase-down the production and consumption of ozone-depleting substances, thereby reducing their potential release into the atmosphere….