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…

Payment’s ecosystem and their different verticals in Nicaragua
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Payment’s ecosystem and their different verticals in Nicaragua

By: Mónica Brenes & Rodrigo Taboada The payment ecosystem is made up of the different means of payment that exist within a financial system, which may vary depending on the territory in which the user is located. According to a study conducted in 2022 by the Inter-American Development Bank (“IDB”), it is estimated that by the…

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…

Cybersecurity and its current importance within compliance management in Nicaragua
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Cybersecurity and its current importance within compliance management in Nicaragua

By: Daniela Matus In recent years, the operation and interconnection between companies due to the use of internet and everything related to new technologies, has increased and with it, the strengthening of cybersecurity mechanisms. Cybersecurity is understood as the practice of protecting information systems against digital attacks, being that the information of a company is…

Apps as a means of business development and its proper protection against competitors in Nicaragua
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Apps as a means of business development and its proper protection against competitors in Nicaragua

By: Gabriel Castillo Osuna. An application, better known as “app” (plural “apps”) for its abbreviation of the English term “application”, is a computer program or software designed for a specific purpose, which can be downloaded to a cell phone or other electronic devices such as a tablet, desktop or laptop, to name a few examples….

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…

New regulation of minimum requirements for the establishment of supervised institutions, circular No.002/2023 in Honduras
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New regulation of minimum requirements for the establishment of supervised institutions, circular No.002/2023 in Honduras

By: José Ramón Paz Morales On January 10, 2023, the National Banking and Insurance Commission (CNBS) issued the new regulation of minimum requirements for the establishment of supervised institutions. With this new regulation, the CNBS continues with its policy of verifying that the different stakeholders, in this case, shareholders and investors of supervised institutions, comply…

Application of taxes to streaming platforms in Guatemala
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Application of taxes to streaming platforms in Guatemala

By: Mario Estuardo Archila The Guatemalan Tax Administration has been insisting, even saying that it is analyzing criminal actions abroad, on the taxation of digital platforms. This insistence comes, we assume, from the existence of documents of the Organization for Economic Cooperation and Development (OECD) on this matter. Although OECD has achieved some consensus among…

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…

Registration of foreign reinsurers and public registry before the national banking and insurance commission (CNBS) in Honduras
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Registration of foreign reinsurers and public registry before the national banking and insurance commission (CNBS) in Honduras

By: Claudia Aguilar The National Banking and Insurance Commission (CNBS), within the scope of its attributions, approved Resolution SS No.2006/16-12-2010, containing the “Regulations for Reinsurance Operations and Registration of Foreign Reinsurance Companies and Reinsurance Brokers”. Its purpose is to establish the rules applicable to the supervision of reinsurance and fronting operations carried out by the…