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,…
Leasing a property implies giving a property for temporary use to another party who agrees to pay a certain amount of money. This generates for both, the lessor, and the lessee, the existence of rights and obligations to keep the property in a good condition and fulfill its purpose of use. To maintain and preserve…
There are so many things that are attributed to invoices. Many qualities and functions that colloquially, even the authorities promulgate, are repeated, and repeated without really being functions of these documents. An invoice, in Guatemala, is a fiscal document of the VAT regime. Its function is only to document the obligation to charge VAT on…
Consortium Legal, the largest law firm in Central America continues to drive its strategy of growth and excellence in client service by announcing the appointment of Maria Fernanda Morales as Practice Partner in its Guatemala office. This promotion marks a milestone in Maria Fernanda’s professional development, and consolidates the firm’s commitment to provide the highest…
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…
Transfer Pricing provisions originate to establish principles and regulations to the costs or amounts agreed by multinational entities in their international transactions and their impact on the calculation of the income tax base. This is done, mainly, to avoid a detriment or deferral of the payment of taxes in each jurisdiction. The objective is that…
It is very common in Guatemala that, when entering into a contract between two local entities, the parent company of one of them is foreign and, therefore, requires that the contract be executed in another language (usually English), that it be subject to the laws of the jurisdiction of the referred parent company and subject…
It is said and insisted that it is necessary, but the most important question is whether it is truly Law. An approach to competition law that seeks the existence of a competition authority that allows actions is undoubtedly a constitutional aberration. An authorization to sell my business is essentially an indirect expropriation. The justification that…
Taking a product to its destination is a necessary and useful task in commerce and requires a broad duty of control for those who engage in this type of activity. Import and export acts are subject to a series of formalities and requirements that depend on the good performance of several individuals who have different…
In accordance with the United Nations Charter and the principles of international environmental law, States have the sovereign right to use their own natural resources according to their environmental and development policies, as well as the responsibility to ensure that activities carried out within their jurisdiction or under their control do not cause damage to…
Decree 52-2003 was declared of urgency and national interest to promote the development of renewable energy projects at a time when Guatemala had a generation matrix, mainly from thermal energy sources (bunker and diesel) and, according to the renewable resources the country had, it could stop depending on imports and generate energy with clean and…
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…