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…

Modifications and additions to resolution DGT-R-46-2014 in Costa Rica
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Modifications and additions to resolution DGT-R-46-2014 in Costa Rica

Mandatory requirement for National Large Taxpayers to submit audited financial statements. With the publication in the official newspaper La Gaceta of resolution MH-DGT-RES-0002-2024 on February 15, 2024, modifications and additions were made to resolution DGT-R-46-2014, linked to the mandatory requirement for National Large Taxpayers to submit audited financial statements. Resolution MH-DGT-RES-0002-2024 amends articles 1, 4,…

Fiscal impact of the frozen exchange rate of the cordoba against the US dollar
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Fiscal impact of the frozen exchange rate of the cordoba against the US dollar

The Central Bank of Nicaragua (BCN) is the entity responsible for determining and executing monetary and exchange rate policy in coordination with the government’s economic policy, under Law No. 732 “Organic Law of the Central Bank of Nicaragua.” In this sense, the BCN sets the annual exchange rate policy and determines the official exchange rate…

Extension of deadline for the importation of used vehicles in El Salvador
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Extension of deadline for the importation of used vehicles in El Salvador

Recently, the General Directorate of Customs (DGA), under the provisions of art 440 of the Regulation of the Uniform Central American Customs Code (RECAUCA), has modified the period of stay for vehicles owned by foreign tourists, Salvadorans residing abroad, and Salvadoran students residing abroad. Until January 15, 2024, all foreign tourists, Salvadorans residing abroad, and…

Export and Phytosanitary Health Certificates and Their Electronic Transmission in Central America
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Export and Phytosanitary Health Certificates and Their Electronic Transmission in Central America

Central American origin goods requiring documentation of their sanitary and phytosanitary condition to any country part of Central American Integration must transmit the certificate electronically through the corresponding institution of the country of origin and the Central American Trade Platform (PDCC). As part of the Central American Trade Facilitation Strategy, approved in Agreement No. 01-2015…

Free Trade Agreement between the Government of the People’s Republic of China and the Government of Nicaragua
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Free Trade Agreement between the Government of the People’s Republic of China and the Government of Nicaragua

On November 17, 2023, the full text of the National Assembly No. 8868 Decree that approves the Free Trade Agreement between the Government of the People’s Republic of China and the Government of China was published in La Gaceta, Official Gazette No. 2023. Free trade agreements, between two or more countries, revitalize their trade reducing…

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…

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…

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…

Simplified joint stock companies in El Salvador
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Simplified joint stock companies in El Salvador

In the plenary session of December 6, 2023, the Legislative Assembly of El Salvador approved a series of new reforms to the Commercial Code to implement certain provisions with innovative elements to facilitate business in the country, boost the economy, and contribute to economic growth. All of this is achieved through the modernization of commercial…

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…