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…

Fintech Laws in El Salvador
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Fintech Laws in El Salvador

Although the Fintech ecosystem is growing in El Salvador, following the global trend, there is still no specific legal framework for it. The absence of specific regulation has led these activities to develop within the free market, respecting the general financial regulations established for traditional financial participants. However, this has generated uncertainty for investors and…

Public-Private partnerships for the development of energy projects
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Public-Private partnerships for the development of energy projects

1- Introduction The constraints of public finances and limited access to state borrowing for socially desirable projects have led to various schemes involving private sector participation in the design, planning, financing, construction, operation, and maintenance of infrastructure projects, particularly in the areas of roads, ports, and airports. Examples of such participation include the concession of…

Regulatory efforts in Fintech matters in Guatemala
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Regulatory efforts in Fintech matters in Guatemala

In Guatemala, there is currently no specific legislation or regulation applicable to Fintech. However, due to the rapid growth and evolution of this ecosystem in the country, the Monetary Board, through proposals from the Banking Superintendency (SIB), has issued regulations related to the management of technological risks and even a draft law on electronic money…

The electronic submission of documents for the qualification process of institutions domiciled abroad has been enabled
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The electronic submission of documents for the qualification process of institutions domiciled abroad has been enabled

This year saw the enforcement of modifications to the Instruction for qualifying institutions domiciled abroad, within the framework of the Income Tax Law, the Law on the Tax on the Transfer of Movable Property and the Provision of Services, and the Tax Code. This instruction is jointly developed and reviewed by the Central Reserve Bank…

Tax-Benefit Regimes in Costa Rica
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Tax-Benefit Regimes in Costa Rica

The current Law of the Free Trade Zone Regime in Costa Rica was established in 1990 with the primary goal of attracting foreign investment for job creation. There are approximately 500 beneficiary companies under this law, contributing a substantial 15.2% to the GDP, as per studies by the Foreign Trade Promotion Office (PROCOMER). This translates…

Bank guarantee vs. Commercial surety Bond in Honduras
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Bank guarantee vs. Commercial surety Bond in Honduras

In Honduras, and internationally, it is usual that, at the time of public or private bids, it is established as an unavoidable requirement the submission of one or more bonds or bank guarantees that serve, at least the main one, to ensure the performance of the guaranteed contract. In the Honduran legislation both figures are…

New regulations for the constitution, organization, and operation of bipartite OHS committees in Guatemala
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New regulations for the constitution, organization, and operation of bipartite OHS committees in Guatemala

Last Friday, November 24, 2023, Ministerial Agreement No. 486-2023 was published in the Official Gazette, which has introduced reforms to the Regulation for the Constitution, Organization, and Operation of the Bipartite OHS Committees, revoking the previous Manual of 2017. In our opinion, the substantial changes are highlighted below:  Organization and functioning of the committees: The…

What are the new reforms to the free trade zone law in El Salvador about?
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What are the new reforms to the free trade zone law in El Salvador about?

The enormous effort that the Salvadoran State has been making to encourage investment in the country must be acknowledged. As an example of this, we can mention the recent reforms to the Law of Industrial and Commercialization Free Zones (LZFIC), which are in force since September 2023. It is worth asking what these reforms are…

Tax benefits contained in the digital assets law in El Salvador
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Tax benefits contained in the digital assets law in El Salvador

The Digital Assets Law, which is in force since February 1, 2023, aims to establish a legal framework that provides legal certainty to the transfer operations of any title of digital assets used in public offerings issued in El Salvador. Likewise, it regulates the requirements and obligations of issuers, digital asset service providers, and other…

Extraordinary working hours, remuneration and limitations in El Salvador
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Extraordinary working hours, remuneration and limitations in El Salvador

It is important to begin by emphasizing that the limitation of the ordinary workday is a right that cannot be waived and that, in the case of El Salvador, there is even the peculiarity that these limits are expressly determined by the imperative Constitutional Norm, which makes them even more difficult to modify than if…

Water for human consumption in Nicaragua – Tanker trucks
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Water for human consumption in Nicaragua – Tanker trucks

In Nicaragua, not in all geographical areas there is the possibility of obtaining drinking water for human consumption through a network of aqueducts that guarantees, in addition to its accessibility, the quality of the water resource. The need or demand to obtain water for human consumption also becomes palpable depending on certain dates or times…