Local Law
in Central America
Monday, January 16, 2012
A bill to include tax offenses in the Penal Code concerns Panamanian business.
A statement from the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) reads:
The CCIAP promotes compliance with the duties of the state and recalls the importance of respecting the rights of taxpayers
Thursday, January 5, 2012
The Nicaraguan National Assembly could be receiving a draft Law on the Promotion of Exports next week.
This was announced by Jose Adan Aguirre, president of the Superior Council for Private Enterprise of COSEP, who noted that the project aims to streamline procedures for exports and reduce trade barriers on all products the country exports.
Tuesday, December 20, 2011
The Office of U.S. Trade Representatives (USTR) has given Guatemala 6 months to meet two commitments on labor issues.
Failure to comply with these provisions, included in the Free Trade Agreement, would mean the matter would proceed to arbitration.
Thursday, December 15, 2011
A subcommittee will be created to discuss the reform proposal with all sectors involved.
A press release from the National Assembly of Panama reads:
Members made up from the Commission on Population, Environment and Development will meet in the next few days to create a subcommittee that will help consult and discuss with all relevant parties Bill No. 97 amending Act 1 of 1994, through which a forestry law is established in the Republic of Panama.
Thursday, December 15, 2011
ANEP, the Association of the Private Enterprise, stated its regret with the recently approved tax hike.
ANEP press release:
Regarding the tax increase approved by the FMLN, GANA, PCN and PDC, the National Association of Private Enterprise, ANEP, declares:
1. We lament that the representatives who voted for more taxes care more about what the government offers them in exchange for their votes, than the consequences of causing unemployment and deepening poverty in El Salvador.
Wednesday, December 14, 2011
The tax on corporate income will rise from 25% to 30%, while tax on dividends will be reduced.
The legislative body of El Salvador has approved the fiscal reforms promoted by the Executive, with 66 votes in favor and 17 against.
Wednesday, December 14, 2011
The proposal argues that, just as there are rules that help over-indebted companies, individuals must have a system allowing them to get out of financial insolvency.
The preliminary draft of the Family Insolvency Law for Latin America and the Caribbean will be studied from January by consumer associations and representatives from the commercial, banking and finance sector in Panama.
Friday, December 9, 2011
The National Congress has passed a special law on the Interception of Communications.
The new legislation allows the authorities to listen to telephone conversations and tap emails, bank accounts and internet services of those suspected of illegal activities.
Friday, December 9, 2011
The new law punishes the distribution and marketing of counterfeit medicines with sentences of one to ten years.
A press release by the Government of the Republic of Guatemala reads.
This Friday (December 9, 2011) Legislative Decree 28-2011 was published in the Official Journal describing the law on combating the production and marketing of counterfeit drugs, adulterated drugs, counterfeit pharmaceuticals, and forged medical devices and surgical materials.
Friday, November 25, 2011
Lack of livestock traceability is preventing access of meat to the European market, for which there is a quota of 9,000 tons.
The biggest challenge facing the region is to meet the health, environmental and competitiveness standards demanded by those markets, said Alexander Acosta, from the United Nations Organization for Food and Agriculture Organization (FAO).
Wednesday, November 23, 2011
The new law creates a regulatory framework for casinos, game houses and slot machines and will come into force in December.
Law 766 was passed last May and published in the official gazette in July, and the Nicaraguan Tourism Institute (Intur) will be responsible for its implementation.
Wednesday, November 23, 2011
If approved, the new reform in Panama, would allow foreign states to participate as shareholders with stakes of up to 35%, in a mining concession.
The new legislation, which will be discussed in January, restores items that had been repealed, said the Minister of Commerce and Industry, Ricardo Quijano.
"The Mineral Resources Code prohibits foreign governments from engaging in mining concessions, and Quijano admitted it was a problem for Minera Panama Colon, because it requires state capital from Korea and Singapore.
Wednesday, November 23, 2011
If approved, the usufruct of radio, television and telephony frequencies would be extended to 25 years.
The reform of the Telecommunications Act will allow beneficiaries of radio, telephone and television frequencies, who have been given usufruct for 15 years to request an extension to 25 years.
Monday, November 21, 2011
Otto Perez Molina, who takes office on January 14 2012, has announced that NGOs will no longer receive state funds for public works building, which will instead be carried out exclusively by the state.
According to an article in El Mundo "Perez Molina announced that Pavel Centeno, who is his finance minister, has instructions to repeal the Ministerial Agreement from 2007 authorizing the implementation of projects assigned to nongovernmental organizations (NGOs). 'We agreed with the economic cabinet members that NGO’s will not be able to carry out building works. '"
Monday, November 21, 2011
The measure applies to all types of shops in the district of Panama, prohibiting the sale of liquor between 2 am and 9 am, Sunday through Wednesday and from 3:00 a.m. to 9:00 a.m. Thursday through Saturday.
With fines ranging from $ 500 to $10,000, Bosco Vallarino, Panama City Mayor issued the decrees which also establishes schedules for the sale of alcoholic beverages.
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