New energy tender for Guatemala
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New energy tender for Guatemala

Since the awarding of Tender PEG-4-2022 last year, there has been discussion about the need to launch a larger one, given that the country’s demand has increased, and the generation park and transmission system have remained stagnant in terms of growth and technological changes that benefit not only prices but also access to energy for…

The Mysterious World of VAT Tax Credit in Guatemala
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The Mysterious World of VAT Tax Credit in Guatemala

Today, on our journey to better understand VAT, we will delve into the exciting and mysterious world of VAT tax credit. In VAT, the problem – as a philosophical exploration – lies in the mystery of the tax credit. But what is this? While the term is commonly used, sometimes, just sometimes, it seems as…

Tax Trends in Central America 2023
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Tax Trends in Central America 2023

The Central American region has been characterized by a very dynamic economic, political, and social development, which has permeated the design of fiscal policies in each country. Under this reality, the tax component is consolidated as one of the most important elements of analysis for those who do business in the region, given the development…

FAC Listings and the Magnitsky Act: implications for compliance
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FAC Listings and the Magnitsky Act: implications for compliance

Numerous reactions and inquiries have arisen regarding various news shared in public forums, indicating that individuals or legal entities have been sanctioned under the Magnitsky Act and consequently included in the Office of Foreign Assets Control (OFAC) lists. In this article, we provide a brief explanation of these matters and their relevance within corporate compliance…

Steamboat Willie truly enters the public domain
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Steamboat Willie truly enters the public domain

In recent days, news has emerged that, as of January 1, 2024, the smiling Mickey Mouse has entered the public domain. This character is known for being the first Mickey to appear on the small screen in the 1928 short film Steamboat Willie: This is significant news considering the economic value that this character represents…

Constitutional interpretation in Guatemala
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Constitutional interpretation in Guatemala

As we have mentioned in previous articles, the constitution establishes certain principles in tax matters. We bring up this topic from the videos about the neutrality of VAT because it is important to see how the constitution aligns with the regulation we will analyze later. In Guatemala, art. 239 of the Constitution orders that it…

The mechanism of neutral VAT in Guatemala
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The mechanism of neutral VAT in Guatemala

Continuing with the VAT neutrality topic. To define the concept in this series of articles, it must be clarified that “The principle of tax neutrality is equivalent to the absence of adverse economic effects derived from taxation; the analysis of this principle of external neutrality concerning VAT is carried out in greater depth” (Tax Neutrality)….

November 25th, International Day Against Violence Against Women
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November 25th, International Day Against Violence Against Women

The United Nations defines violence against women as “any act of gender-based violence that results in, or is likely to result in, physical, sexual or psychological harm to women, including threats of such acts, coercion or arbitrary deprivation of liberty, whether occurring in public or in private life.” “The World Health Organization” has declared gender-based…

Protecting the right to informational self-determination in banking matters in Central America and the interpretative debate on its limits in Costa Rica.
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Protecting the right to informational self-determination in banking matters in Central America and the interpretative debate on its limits in Costa Rica.

I- Introduction In November 2022, the Central Bank of Costa Rica (“BCCR“) requested from the General Superintendence of Financial Institutions (“SUGEF“) access “to the integral information of all credit operations that the supervised financial intermediaries submit, including necessarily the identification number (physical, legal, dimex, or others), to the Information Management Division of the Central Bank…

Capital gains tax technique. General rule in Nicaragua
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Capital gains tax technique. General rule in Nicaragua

In this article, we will review the general provisions regarding the technique for the determination of Income Tax (IR) on capital gains and losses in accordance with the Tax Agreement Law (“LCT“) and its Regulations (“RLCT“), applicable to taxpayers not exempted by Art. 77 LCT, with respect to non-exempt income established in Art. 79 LCT…

Crime prevention model in Guatemala
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Crime prevention model in Guatemala

Crime Prevention Models are useful tools to reduce the risk of occurrence of criminal acts within the institution. Their implementation is closely linked to the areas of compliance, with a focus on the criminal area. In Guatemala, the main objective of implementing a program of this nature is to avoid direct criminal sanctions to the…