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…

Practical implications of regime change in the microfinance sector in Nicaragua
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Practical implications of regime change in the microfinance sector in Nicaragua

By: María Lizeth Prado  On November 15, 2022, was published in The Gazette Official Daily No. 214, Law No. 1137 “Special Law for the Change of Legal Regime of Non-Profit Organizations” which, according to its text, has the purpose of establishing the procedure for the change of regime from non-profit to mercantile of the entities whose…

Economic concentrations and their relevance in the field of mergers and acquisitions in the country in El Salvador
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Economic concentrations and their relevance in the field of mergers and acquisitions in the country in El Salvador

By: Fidel Márquez When we are involved in projects of purchase and sale of shares or assets, mergers of companies, or transactions of similar nature, our focus is usually concentrated on the negotiation and preparation of the necessary documentation so that the parties can achieve their objective. Occasionally, they may -involuntarily- omit other issues 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…

Approval of the regulations on centralized registry entities for electronic bills of exchange and promissory notes in Costa Rica
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Approval of the regulations on centralized registry entities for electronic bills of exchange and promissory notes in Costa Rica

On Tuesday, February 8, it was announced the approval of the SUGEVAL 21-23 agreement “Regulation on Centralized Registry Entities of Electronic Bills of Exchange and Promissory Notes”, which will be in force one (1) month after its publication in the official gazette La Gaceta. This Regulation complements the Law on Electronic Bills of Exchange and…

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…

Improvements to free trade in Central America with the new annex of specific rules of origin
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Improvements to free trade in Central America with the new annex of specific rules of origin

By: William Escobar Foreign Trade. Preferential and non-preferential origin. We are in a globalized world, where it is increasingly common for citizens of different States to enter trade relations for the exchange of goods, which in turn has an impact on each of their economies. In this context, import tariffs constitute artificial barriers to trade,…

Fintech in Costa Rica: changes and perspectives
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Fintech in Costa Rica: changes and perspectives

By: Randall Barquero In 2022, the Fintech sector continued to grow in Costa Rica, and the outlook for 2023 is even more promising. In this article, we will review the recent dynamics of the sector and what we can expect in terms of regulation soon. According to the latest Fintech report published last April by…

Governmental agreement 9-2023: regulations for registration in Guatemala’s social security system
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Governmental agreement 9-2023: regulations for registration in Guatemala’s social security system

The Agreement in question, published on January 16, 2023, repeals Agreement 1123 of the Board of Directors of the Guatemalan Social Security Institute, which regulated the registration of employers. As a consequence of this repeal, as of January 16, 2023, the exemption enjoyed by salaries paid to legal representatives registered in the IGSS and who…

Payment of corporate income tax for the 2023 period in Costa Rica
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Payment of corporate income tax for the 2023 period in Costa Rica

Corporate Obligations: Payment of the Corporate Income Tax for the period 2023. As part of the corporate and tax obligations that every company, branch of a foreign company and individual limited liability company must comply with at the beginning of each year, is the payment of the Corporate Income Tax, regulated in the Corporate Income…

Tax News Update in El Salvador
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Tax News Update in El Salvador

1. General Directorate of Customs announces the El Salvador Reliable Operator Program Manual (AEO-SV) On January 04, 2023, the General Directorate of Customs, on its website, made available the Manual of the Reliable Operator of El Salvador (AEO-SV). The purpose of this manual is to establish the rules that regulate the process to obtain the…