news

IFLR AMERICAS 2022 AWARDS US WITH 6 IMPORTANT AWARDS THROUGHOUT THE REGION


Thanks to our human talent, their expertise, their knowledge and experience we have been awarded once again in the IFLR AMERICAS 2022 awards: Central America Firm of the Year* Central America Banking & finance Firm of the Year Central America Corporate Firm of t...

leer más

GUATEMALA - SANITARY ALERTS UPDATE


The aforementioned agreement, effective as of its publication, establishes the parameters to determine the level of risk in each municipality and determinate the applicable color for alerts (based on traffic light system), according to the established indicators. It also regulat...

leer más

OBLIGATORY VACCINATION FOR COVID 19 IN COSTA RICA


Today was published in the Official Diary La Gaceta the Executive Ordinance number 43543-S which refers to the mandatory vaccination against COVID 19. As a first point, it is important to mention that this Executive Ordinance does not amend Executive Ordinance number 43249-S of ...

leer más

EL SALVADOR - VISAS FOR SALVADORANS TRAVELING TO THE UNITED KINGDOM


The UK Government has announced that from 9:00 a.m. (El Salvador time) on 11 May 2022, all nationals of El Salvador who intend to visit the UK will be required to obtain a visa ("entry clearance") in advance of traveling. This measure is in addition to already establis...

leer más

ELIMINATION OF MANDATORY USE OF FACE MASKS IN COSTA RICA


Executive Ordinance number 43544 was published today, which amends article 3 of Executive Ordinance number 42421-S of March 10, 2021, called "Mandatory use of face mask". With this amendment, the mandatory use of face masks is only required for front line health employ...

leer más

HONDURAS - SALES TAX EXEMPTIONS: THE MODERN PERSPECTIVE


Historically, consumption taxes, particularly the value added tax or as it is called in Honduras, Sales Tax (ISV), have been classified as regressive taxes. Tax regressiveness means that a tax is not collected based on a person's purchasing power, but is applied uniformly to ...

leer más

NICARAGUA - NEW REGULATIONS FOR PROVIDERS OF FINANCIAL SERVICES OF PAYMENT SERVICES AND VIRTUAL ASSETS


By means of Resolution CD-BCN-XXV-1-22 published in The Gazette, Official Diary No. 76 last Wednesday, April twenty-seventh, two thousand twenty-two, the Central Bank of Nicaragua (hereinafter "BCN") issued the Regulations for Financial Technology Providers of Payment S...

leer más

EXPERT PARTNERS IN INTELLECTUAL PROPERTY EXCEL IN THE 2022 RANKING OF IP STARS


Intellectual property is recognized as one of the most important intangible assets for companies, and over the years it has gained greater value. Having a first-class team in this practice makes us stand out in the market and allows us to respond accurately to the needs of our cl...

leer más

INTELLECTUAL PROPERTY MANAGEMENT


  On April 26, the World Intellectual Property Organization (hereinafter WIPO) celebrates Intellectual Property Day with the theme “IP and Youth: innovating for a better future”. At Arias, like WIPO, we believe that young people, through their energy, ingenuit...

leer más

EL SALVADOR - LAW AMENDMENTS TO BE CONSIDERED FOR DOCUMENTING CREDIT OBLIGATIONS


On April 26 of this year, the Legislative Decrees No. 293 containing amendments to the Law against usury (the "Law"); No. 294 containing amendments to the Civil Code and No. 295 containing amendments to the Commercial Code were published in the Official Gazette, all wit...

leer más

COSTA RICA - PRESIDENTIAL ELECTIONS 2022, SUMMARY OF MAIN EVENTS


During April, a new election process was completed in Costa Rica. After two electoral rounds, the presidential candidate Rodrigo Chaves of the Social Democratic Party was elected as the next President of Costa Rica. This electoral process also appointed the new 57 Congressman who...

leer más

GUATEMALA - REGULARIZATION PERIOD. ENVIRONMENTAL LICENSE


We remind you that in accordance with Governmental Agreement 137-2016 “Environmental Assessment, Control and Monitoring Regulations” of the Ministry of Environment and Natural Resources, any project, construction, industry or activity regardless of its object must com...

leer más

COSTA RICA - TAX ADMINISTRATION ACTIVATES CONTINGENCY PLAN AND MAKES AVAILABLE TO TAXPAYERS FORM D-110 FOR THE PAYMENT OF TAXES DUE ON APRIL 18TH, 2022


The term to pay the taxes due on April 18th begins today. As established by guideline N°DGT-R-012-2022, since the ATV services have not been re-established as of April 29th, 2022, all taxpayers (except Major National Taxpayers who were the first to whom these measures we...

leer más

PANAMA APPROVES LAW FOR ELECTRIC MOBILITY


Last Monday, April 25, Panama approved Law 295 that encourages Electric Mobility in Transportation, which will come into effect next year, January 1st, 2023. The Transit and Land Transport Authority (ATTT) will promote a steady replacement of mass transit fleets (buses and taxis...

leer más

COSTA RICA - TAX ADMINISTRATION GRANTS AN EXTENSION FOR THE FILING OF THE UBO REPORT


Last Friday, April 23, 2022, the Ministry of Treasury announced through its social media, an extension to the deadline to submit the UBO report, which should have been submitted no later than April 30 of the current year. The new deadline will be until May 31st,2022. All legal e...

leer más

COSTA RICA - POTENTIAL REFORM TO THE LAW ON CANNABIS FOR MEDICINAL AND THERAPEUTIC USE AND HEMP FOR FOOD AND INDUSTRIAL USE. N° 10.113


Bill No. 22,964 is pending in congress to amend the recently approved law on cannabis for medicinal and therapeutic use and hemp for food and industrial use. The reform is motivated by the partial veto of the executive power that modified article 5 of bill No. 21,388. Article 5,...

leer más

COSTA RICA - REFORM TO THE LABOR CODE: PATERNITY LEAVE AND SPECIAL LEAVES


The Legislative Assembly approved project number 21 149 reforming articles 94, 94 BIS, 95, 96, 97 and 100 of the Labor Code and adding paragraph k) to article 70 of the Labor Code. The most important reforms are the creation of paternity leave and other special leaves, the exten...

leer más

THE FINTECH BOOM AND ITS DEVELOPMENT IN EL SALVADOR


The growing technological development has had an impact on the structure and the form the financial sector operates, accelerating its evolution towards a more automated and accessible ecosystem with immediate responses for its users. The term FinTech, an acronym for the words &ld...

leer más

NICARAGUA - TEMPORARY RULE FOR THE AMENDMENT OF ARTICLE 15 OF CREDIT CARD OPERATIONS REGULATIONS ENTERS INTO FORCE


On March 29, 2022, the Board of Directors of the Superintendence of Banks and Other Financial Institutions (SIBOIF) published Resolution No. CD-SIBOIF-1305-1-MAR29-2022, Temporary Rule for the Amendment of Article 15 of Credit Card Operations Regulations.   Said Amendment ...

leer más

AMENDMENTS TO THE CIVIL LAW NOTARY OBLIGATIONS AND THE COMMERCIAL CODE OF NICARAGUA


On April 4, 2022, Law number 1113 "Amendments to the civil law of notaries and the commercial code of the Republic of Nicaragua" came into force. Among the relevant aspects of these amendments, the status of Civil Law Notaries is reiterated as obligated subjects, that i...

leer más

Arias - All rights reserved 2022