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…

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…

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…

Energy communities: innovative solutions to climate change in El Salvador
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Energy communities: innovative solutions to climate change in El Salvador

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…

Contracts in Guatemala: Exploring the scope of agreements drafted in English, governed by foreign laws and jurisdictions
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Contracts in Guatemala: Exploring the scope of agreements drafted in English, governed by foreign laws and jurisdictions

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…

Exemption rights for renewable energy projects in Guatemala
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Exemption rights for renewable energy projects in Guatemala

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…

The path to a sustainable and prosperous future through renewable energy
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The path to a sustainable and prosperous future through renewable energy

In a world increasingly aware of the need to protect the environment and reduce greenhouse gas emissions, Costa Rica has become a true leader in the adoption of renewable energy and the implementation of sustainable policies. Through a combination of unique factors and a determined commitment, Costa Rica has made significant progress in achieving sustainable…

Audited financial Statements and SAT in Guatemala
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Audited financial Statements and SAT in Guatemala

Since November 2021, the Tax Administration has made some communications with taxpayers requiring some specific forms regarding the presentation of reconciliations and audited financial statements, when applicable. It is important to start by defining who is obliged to submit such financial statements to the Tax Administration. Several legal bodies place this obligation. Income Tax In…

Joint and several liability of the legal representative in tax matters in Nicaragua
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Joint and several liability of the legal representative in tax matters in Nicaragua

Nicaraguan law requires companies to register as taxpayers with the General Revenue Directorate (DGI). The Single Registry of Taxpayers includes basic data of the company, such as: shareholder composition, current board of directors, fiscal domicile, economic activity, legal representative, etc. It is the taxpayer’s obligation to keep this information updated, being necessary to carry out…

Equity premium in Guatemala
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Equity premium in Guatemala

The topic of the equity premium has taken off in Guatemala, mainly because of the concern about how ventures can be financed, since: They do not want to be diluted. They need capital. Their venture is valued as nothing more than an income expectation. Essentially, there are two ways in which money can come into…

New Income Tax Law proposed in Costa Rica
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New Income Tax Law proposed in Costa Rica

On May 18, 2023 the Executive Branch submitted five bills to the Legislative Assembly related to fiscal and public finance matters. The aforementioned bills are: File 23759: Modification of the Tax Code regarding joint and several liability in tax matters. File 23760: New Income Tax Law. File 23761: New Vehicle Property Tax Law. File 23762:…