Simplified National Employer Registry System´s creation in Honduras
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Simplified National Employer Registry System´s creation in Honduras

The Simplified National Employer Registry System (RNSP) has recently been established under the auspices of the Ministry of Labor and Social Security, through the General Directorate of Labor Inspection. As a result, it is mandatory for all natural persons, legal entities, individuals, and public or private entities exercising activities in Honduras, either for their benefit…

Aspects of Corporate Governance Regulations for CNBS-Supervised Institutions
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Aspects of Corporate Governance Regulations for CNBS-Supervised Institutions

On October 22, 2022, in the Official Gazette No. 36,057, the Corporate Governance Regulation for Supervised Institutions (hereinafter referred to as the Corporate Governance Regulation) was published, establishing an adaptation period of 8 months. During the adaptation period, we had the opportunity to advise banks, insurance companies, and other institutions supervised by the CNBS in…

Fintech Regulatory Report
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Fintech Regulatory Report

Central America is a region experiencing growth and development in the Fintech market. In recent years, some countries have enacted laws, regulations, and rules applicable to various types of financial technology services. However, other services offered by Fintech companies are regulated through general principles of law and the primary laws of each country. Nevertheless, there…

The Impact of Tax Exemptions on Honduras’ Public Finances
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The Impact of Tax Exemptions on Honduras’ Public Finances

It is no secret that tax exemptions are at the center of debate due to their impact on public finances. Recently, SAR (Tax Administration Service) reported that in 2023, tax exemptions totaling L56,560 million were granted in Honduras. This note explores the significance of these exemptions and analyzes their effects on the country’s finances. Tax…

Electricity Amnesty in Honduras
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Electricity Amnesty in Honduras

On February 1, 2024, Decree No. 61-2023 was published in the Official Gazette, containing provisions regarding the amnesty benefit on fines, surcharges, and interests, as well as outstanding accessory obligations owed to the National Electricity Company (ENEE) as of December 1, 2023. For this amnesty to be applicable, both natural and legal persons must make…

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…

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…

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…

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…

Consortium Legal received the prestigious recognition as “Best Firm in Central America” in the Chambers Awards 2023.
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Consortium Legal received the prestigious recognition as “Best Firm in Central America” in the Chambers Awards 2023.

On the night of Friday, November 17, the international directory Chambers & Partners held a new edition of the annual awards ceremony “Chambers Latin America Awards for Excellence” in Miami, United States. During the gala, Consortium Legal was recognized for the thirteenth year as “Best Firm of the Year in Central America”, an award received…

Good practices in migration matters (focus on migrants)
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Good practices in migration matters (focus on migrants)

Migration is a human phenomenon that has been present throughout history, being driven by various reasons, such as the search for economic opportunities, flight from conflict or persecution, family reunification and the search for a better future. As migration has become a fundamental part of the global reality, it is essential to approach it from…