The legal directory International Tax Review (ITR) recognized Consortium Legal as “Central America Tax Firm of the Year” at the annual gala held last Thursday, September 14 in New York City, United States. The event brought together the best law firms in the continent to highlight their work in the most innovative transactions of 2022,…
With the objective of reducing the effects of climate change and guaranteeing access to energy in different latitudes, the figure of Energy Communities has been developed. These are legal organizations made up of a variety of partners that may include individuals, associations, small and medium-sized companies, government entities, among others. Climate change is a real…
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…
Introduction Solid and strategic commercial relationships depend, to a great extent, on suitable contractual agreements. Among these fundamental instruments is the Agency-Representation or Distribution Agreement, which plays an important role in the promotion and marketing of goods and services in the legal context of El Salvador. In practice, consultations are received on this figure regarding…
Our present time is in constant evolution and Artificial Intelligence (AI) has demonstrated its ability to revolutionize entire industries and improve our quality of life in many aspects. In our global interconnectedness, it is a reality that organizations are already working on implementing AI for various purposes, including improving processes and the way they do…
Entities – regulated entities – according to their activities, nature, size, and operations, must identify, evaluate, and understand their risks of money laundering and asset laundering (AML), financing of terrorism (FT) and the financing of proliferation of weapons of mass destruction (FPADM), with the objective of implementing controls aimed at ensuring that the identified risks…
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…
Green finance is a way to support sustainable development, encourage investment decisions and develop projects that seek to generate a positive impact from the financial trenches. Every year there is a growing emphasis on environmental awareness and the urgent need for sustainable development for all. Green finance – the integration of environmental, social and governance…
Introduction In our different jurisdictions we saw that the application and implementation of electronic signatures was accelerated during the pandemic and in recent years, Central American countries have passed legislation that gives the same legal validity and effectiveness to electronic signatures as handwritten signatures. Today, we are beginning to hear of some precedents from regulatory…
As a general rule, during the procedure of definitive importation of goods into Salvadoran territory, the owner of the goods must pay the taxes that are caused, unless these goods are subject to a tax exemption or are not subject to the payment of these taxes. However, there is an import modality that can be…
Regional Tax Team Concept and background: Capital gains are those that are generated by activities outside the taxpayers’ line of business. That is to say, they do not come from their line of business or usual activity. Capital gains occur when as a result of a monetary operation, there is a difference between the amount…
On April 18, 2023, the Legislative Assembly approved the new Law for the Promotion of Innovation and Technological Manufacturing, with the purpose of encouraging natural or legal persons to make, within the national territory, new investments in innovation projects or technological manufacturing, thus contributing to the economic growth and sustainable development of the country through…