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…

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…

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…

Reform to the Regulation of Migration Fees in Guatemala
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Reform to the Regulation of Migration Fees in Guatemala

The Guatemalan Institute of Migration, to establish fees for each of the services it provides and its sub-directories, within its legal framework, has the Authority Agreement No. IGM-029-2023, which regulates the Regulation of Fees for Migration Services of the Guatemalan Institute of Migration. Recently, in the official newspaper of Central America, Agreement IGM No. 57-2023…

Carbon credits and fiscal incentives
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Carbon credits and fiscal incentives

I- Background of Carbon Credits: Carbon Credits have their origins in the Kyoto Protocol of 1997, where they were proposed as a mechanism to combat climate change. The primary focus was on preventing, capturing, or reducing Greenhouse Gas (GHG) emissions. This is achieved through the conservation or reforestation of long-term forests, equivalent to not emitting…

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)….

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…

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…