Law No. 1,012, published on 12-19-2019, reforms the articles of Law No. 286 Special Law on Exploration and Exploitation of Hydrocarbons. Law No. 286 is the norm that regulates the exploration, drilling and other activities related to the search and potential extraction of oil, gas and other hydrocarbons in Nicaraguan territory. The main objective of…
Tag Archives: Nicaragua
Nicaragua’s Energy Industry was recently reformed by publication in the Official Gazette of Law 1,011 that amends Article 32 of Law 272, Law of the Electricity Industry. The amendment creates an exemption from all taxes on an activity that meets the following conditions: Sale of Electric Power, made by a Distributed Generator, to the Distribution…
On October 7, 2019, the full and amended text of Law 976, Law of the Financial Analysis Unit, was published. The reform was carried out by law 1,002 that was published on September 13 and follows the same policy line as Law 977, Law Against Money Laundering, passed a month earlier. This new reform closes…
Due to the reform of the Tax Agreement Law published on February 28, 2019, the tax burden on the importation of juices, soft drinks, and energy drinks increased both in the Value Added Tax (VAT) and in the Selective Consumption Tax (ISC): a) Value Added Tax Previously the tax was calculated on the customs value…
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,…
Throughout history it has been demonstrated that crises, with all their negative elements, bring forth positive side effects too. The financial crisis of 2008, caused by the collapse of the Real Estate bubble in the United States, had as a side effect the rise of Airbnb and Uber, whose popularity surged from the people’s need to procure other…
Lawyers, Public Notaries and their new designation as Mandatory Subjects under Law No. 977, Law against Money Laundering (LA / FT / FP). As of 2019, Nicaraguan lawyers and notaries public become part of the National System: Against the Laundering of Assets, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction….
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