In which cases are customs fraud fines being applied directly in Nicaragua?
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In which cases are customs fraud fines being applied directly in Nicaragua?

All imports are subject to the random selection mechanism that will determine whether or not the goods should be inspected, or subsequently verified through corresponding customs investigations or audits, which will then lead to a successive administrative challenge process before the General Directorate of Customs Services (DGA). In principle, art 64 of Law No. 265…

Capitalization of profits is not a taxable event for income tax purposes in Guatemala
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Capitalization of profits is not a taxable event for income tax purposes in Guatemala

By: David Erales. In the last 10 years there has been a difference of criteria between taxpayers and the Superintendence of Tax Administration as to whether the capitalization of profits of a corporation is regulated as an income tax generating event and, consequently, whether or not such tax must be paid. The capitalization of profits…

Usufruct of shares in Costa Rica
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Usufruct of shares in Costa Rica

By: Nikole Sánchez The usufruct is a right that gives a third party the possibility to use and enjoy a property that does not belong to him and grants him the possibility to take possession of the fruits it produces, in this case, the civil fruits that are those that come from businesses where money…

Considerations on the annual fiscal year-end closing in Honduras
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Considerations on the annual fiscal year-end closing in Honduras

The annual period for the computation of the taxable income tax begins on January 1 and ends on December 31, however, there are periods different from the calendar year, which we call “Special Tax Period”, which must be previously notified in writing to the Tax Administration and in accordance with such period, the tax return…

Considerations on the annual fiscal year-end closing in El Salvador
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Considerations on the annual fiscal year-end closing in El Salvador

In El Salvador, the obtaining of income by the taxpayers in the fiscal year or tax period in question generates the obligation to pay Income Tax. The corresponding tax must be settled by means of a Sworn Statement (F-11), contained in a form prepared by the Directorate General of Internal Taxes, which must be filed…

Geolocation, working hours and other labor rights in Nicaragua
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Geolocation, working hours and other labor rights in Nicaragua

By: Bertha Xiomara Ortega The era of technology is here to stay and to permeate all areas of life, including labor relations. The management power of the employer in this era, and in many cases, is exercised through new technological tools that allow remote surveillance and provide an amount of information and/or data that are…

Closure of the CCSN Arbitration Center in Nicaragua
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Closure of the CCSN Arbitration Center in Nicaragua

On Monday, March 6, 2023, was published in La Gaceta Diario Oficial Number Forty-one (41), the Ministerial Agreement Number twenty-seven scripts two thousand and twenty-three scripts OSFL (27-2023-OSFL) of the Ministry of Government of Nicaragua cancelling eighteen (18) non-profit organizations. Among the organizations whose legal personality was cancelled was the Chamber of Commerce and Services…

Updating the taxpayer’s registration in Central America: Are you up to date with your obligations?
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Updating the taxpayer’s registration in Central America: Are you up to date with your obligations?

By: Equipo Regional Tributario As the years go by, taxpayers usually forget to update their data before the Tax Administration. It is extremely important to keep duly updated the data of the economic activities developed, the personal information of the legal representative, and the exact address of the tax domicile because this information is essential…

Sustainability and compliance in Guatemala
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Sustainability and compliance in Guatemala

By: Astrid Dominguez The business world has given special preeminence to the responsibility of companies regarding the various economic, social, and environmental impacts they can generate in society, in relation to the development of their business activities. This is why the business sector has chosen to implement actions that tend to implement environmental measures that…

New notices on updating taxpayer registration data in Nicaragua
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New notices on updating taxpayer registration data in Nicaragua

Recently, the Tax Administration has issued two notices, one of them was to invite taxpayers to check if they are in compliance with the data update required by law. Subsequently, we have identified that the Tax Administration issued a clarification on this first notice and explained that it is not necessary to go to your…

Prevention as a form of management in Guatemala
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Prevention as a form of management in Guatemala

By: Astrid Dominguez In law, prevention is an especially valuable practice. It focuses on identifying and resolving problems before they occur, allowing us to minimize risk and ensure long-term success. By integrating prevention into management, we can improve efficiency, increase the satisfaction of our clients and leaders, and strengthen the organization’s position in the marketplace….

Change in interest deductibility in Guatemala
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Change in interest deductibility in Guatemala

By: Mario Estuardo Archila Guatemala changed its Income Tax law in 2012 with the approval of Decree 10-2012, which went into effect in fiscal year 2013. Few changes were made that can be described as “good”, but one of them is the regulation of interest. This is why it is worth comparing the article that…