Updating shareholding composition data in Nicaragua
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Updating shareholding composition data in Nicaragua

In Nicaragua, the Directorate General of Revenue (DGI) plays a fundamental role in regulating and supervising fiscal activities, ensuring that taxpayers comply with their tax and formal obligations. In this regard, art. 103 of the Tax Code of the Republic of Nicaragua and its amendments (CTr) regulate the obligation of all taxpayers to register and…

Reforms to the administrative procedure for handling consumer complaints in Costa
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Reforms to the administrative procedure for handling consumer complaints in Costa

With the aim of expediting the handling of complaints, recent reforms have been implemented in the administrative procedure for consumer protection. Among the most notable changes is the transition to a predominantly written process, characterized by the elimination of the in-person conciliation hearing as well as the elimination of remote conciliation. With this change, the…

Transfer pricing studies in El Salvador
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Transfer pricing studies in El Salvador

Transfer Pricing rules are fundamentally based on the Arm’s Length Principle, articulated in art. 9 of the OECD Model Tax Convention. This principle is pivotal for bilateral and multilateral tax treaties to avoid double taxation, reiterated in point 1.6 of the OECD’s “Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.” The Arm’s Length Principle…

What is open finance?
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What is open finance?

Open finance is a collaborative model in which various entities share consumer financial data through APIs, aiming to increase financial inclusion by offering products and services designed based on the shared information. Typically, participants in these environments include institutions such as banks, fintechs, insurance companies, and others that provide services in innovative ways compared to…

Advance rulings: New procedures, guidelines, and forms in Costa Rica
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Advance rulings: New procedures, guidelines, and forms in Costa Rica

Advance rulings are contained within international, regional, and national customs regulations and are a binding administrative act in which the Customs Authority determines the treatment that will be given to a specific commodity at the time of importation, concerning critical aspects of the process. In recent years, this pre-import procedure has gained significance as part…

The SDGs from an energy perspective in Nicaragua
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The SDGs from an energy perspective in Nicaragua

The Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 aim to combat extreme poverty and integrate and balance three essential dimensions of sustainable development: economic, social, and environmental. These goals provide a valuable roadmap for formulating global policies. These Sustainable Development Goals allow for a global commitment to continuous economic growth and…

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…

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…

Strategies and considerations for obtaining permanent residency in Honduras
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Strategies and considerations for obtaining permanent residency in Honduras

Obtaining permanent residency in a foreign country is a significant step for many individuals seeking to establish themselves permanently outside their country of origin. Besides the personal and professional benefits, it offers, this process involves a series of specific requirements that must be met to achieve the desired goal. This article will explore fundamental strategies…

Change of name and/or surname due to abandonment in El Salvador
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Change of name and/or surname due to abandonment in El Salvador

On February 18, 2022, the Constitutional Chamber of the Supreme Court of Justice of El Salvador – hereinafter referred to as “SCN” – issued the judgment of the unconstitutionality process with reference 33-2016/195-2016, which brought to light two current debates in Family Law in general. These debates concern the possibility for an individual to change…

Importance of the United Nations Convention on contracts for the international sale of goods
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Importance of the United Nations Convention on contracts for the international sale of goods

Most companies, large or small, and even entrepreneurs, purchase international supplies for their day-to-day operations. The globalization in which we live and the interrelation of businesses at an international level make it increasingly important to achieve minimum standards for the preparation of contracts, especially for contracts for the international sale of goods. Historically, contracts for…