Tax Requirements in the implementation of commercial policies for discounts, rebates, and bonuses in Nicaragua
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Tax Requirements in the implementation of commercial policies for discounts, rebates, and bonuses in Nicaragua

Generally, most companies engaged in commercializing goods and providing services implement sales policies and commercial strategies that allow them to offer better prices or incentives to attract or retain customers. This enables them to better position themselves in the market, compete with other companies in the sector, increase their sales volume, and consequently promote a…

Key Aspects of the obligation to maintain inventory control records in El Salvador
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Key Aspects of the obligation to maintain inventory control records in El Salvador

Taxpayer obligations regarding inventory control are essential to ensure transparency and accuracy in the recording and valuation of tangible personal property. According to art. 142 of the Tax Code, this obligation applies to taxpayers who transfer tangible personal property, requiring them to maintain clear and detailed records of the movement, valuation, and description of their…

The complementarity rule in the sub-motives of misapplication of law and violation of law by omission within the cassation appeal. Part II
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The complementarity rule in the sub-motives of misapplication of law and violation of law by omission within the cassation appeal. Part II

In the previous article, I discussed the reasonableness of the complementarity rule between the cassation sub-motives (substantive motives) of Misapplication of Law and Violation of Law by Omission (non-application) as established by the Supreme Court of Justice, Civil Chamber. In essence, it has been established that for the admissibility of these sub-motives, when alleging the…

Global minimum tax and its considerations for Costa Rica
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Global minimum tax and its considerations for Costa Rica

The global minimum tax arises from the OECD initiative known as “Pillar 2”, whose purpose is to establish a minimum global taxation level of 15% for large multinationals in all countries where they are present, as well as from the Multilateral Convention (MLC) signed between 140 member and non-member countries of this organization, intending to…

Regulation of Advance Pricing Agreements (APA) in Guatemala
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Regulation of Advance Pricing Agreements (APA) in Guatemala

The regulation of transfer pricing in Guatemala is based on the free competition principle. This principle is defined as the price or amount for a given transaction that independent parties would have agreed upon under comparable conditions. Taxpayers engaging in transactions with related parties must demonstrate compliance with the arm’s length principle through transfer pricing…

The complementarity rule in the subgrounds of Improper Application of Law and Violation of Law by Omission within the appeal for cassation
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The complementarity rule in the subgrounds of Improper Application of Law and Violation of Law by Omission within the appeal for cassation

Part I In Guatemala, the extraordinary appeal of cassation is processed and resolved by the Supreme Court of Justice, Civil Chamber. This appeal aims, among other things, to determine the correct application of the law by the various courts of the Republic. This guarantees security and legal certainty for the governed that a certain judicial…

Requirements to maintain financial statements in El Salvador
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Requirements to maintain financial statements in El Salvador

Art. 283 of the Commercial Code (CCom) stipulates that the balance sheet, income statement, and statement of changes in equity must be concluded within an unextendable period of three months from the closure of the fiscal year. These documents will be the responsibility of the sole administrator or the board of directors and must be…

The importance of positive administrative silence within the administrative process in Nicaragua
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The importance of positive administrative silence within the administrative process in Nicaragua

On this occasion, we will address the generalities of a legal figure of vital importance in administrative processes before the Nicaraguan Tax Administration, namely the “Positive Administrative Silence”. Law No. 350 “Law Regulating the Jurisdiction of Administrative Litigation” regulates the following concept: Administrative Silence: It is the effect that occurs in cases where the Public…

Consortium Legal appoints new partner in Costa Rica
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Consortium Legal appoints new partner in Costa Rica

With great enthusiasm, Consortium Legal is pleased to announce the appointment of Felipe Guevara Leandro as tax practice partner in Costa Rica. This promotion follows the firm’s career plan and ongoing commitment to providing the highest standard of quality in each service we deliver to our clients. This elevates the number of local partners to…

A new fiscal reform project in Costa Rica
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A new fiscal reform project in Costa Rica

On May 2nd, the President of the Republic announced the convocation of legislative file No. 23.760 entitled “Income Tax Law“, which has been in Congress for almost a year. It is important to note that extraordinary sessions are those in which the Executive Power dominates which bills the deputies discuss, a period that will cover…

Electronic Submission for Qualifying Foreign Institutions: Income Tax Law, VAT Law, and Tax Code
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Electronic Submission for Qualifying Foreign Institutions: Income Tax Law, VAT Law, and Tax Code

This year, the modification of the Instructions for Qualifying Institutions Domiciled Abroad in the context of the Income Tax Law, Value Added Tax Law, and Tax Code came into effect. This instruction is jointly developed and reviewed by the Central Reserve Bank and the General Directorate of Internal Revenue. What is the purpose of this…

Printing of tax documents from the Tax Electronic Window (VET) in Nicaragua
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Printing of tax documents from the Tax Electronic Window (VET) in Nicaragua

On March 12 of the current year, the General Directorate of Revenue (DGI) issued “NOTICE-059-03-2024” whereby taxpayers under the general regime and fixed quota regime were informed that they can now, through the Tax Electronic Window (VET), print the following tax documents: Unique Taxpayer Registry (RUC) ID. Registration certificate. Definitive registration/modification certificate. In this regard,…