Radical changes will create five regimes: Social Protection Floor, Social Security Prevision, Insurance Health Care, Professional Risk Insurance and Labor Insurance Coverage .
An article on Latribuna.hn reports that "... The new legal framework will take effect in the next 45 days and will give rise to the approval of four special laws that will regulate the scope of these principles. "
The recently adopted legislation requires companies to make a tax contribution equivalent to 4% of the monthly salary of each employee on their payroll.
In addition to the monthly contribution of 4%, the new Framework Law of Social Protection System for a Better Life states that "...Employers must pay into the respective sub-account of a worker's labor reserve until the respective account reaches an amount equal to the amount of the unemployment benefit provided for in Articles 102 and 120 A of the Labour Code, at its highest level. The employer must renew contributions for workers who when their ordinary salaries increase are entitled to receive a higher amount for severance pay. "
The Ministry of Labour has introduced a bill which would require construction companies to pay from $19,000 to $100,000 per project and which would go to the Fund for Occupational Safety, Hygiene and Health.
The private sector disapproves the action taken by the Ministry of Energy to reduce the amount of energy generated from wind and bagasse which is injected to the national grid.
This measure which seeks to reduce the energy input of these sectors comes at a time when wind and bagasse plants are operating at full capacity, therefore there is a direct impact on their finances. Furthermore, "... The country would be consuming more thermal energy, which would involve the use of more fuel. "
By a ruling of the Second Chamber of the Supreme Court of Costa Rica, the optional 40% contribution made by employers in cases of incapacity, is exempt from social charges.
In judgment 477 of 2012, the judges of the Second Chamber of the Supreme Court determined that the 40% contribution optionally make by employers for disability payments can not be considered a salary, but rather a subsidy, and therefore is unencumbered by social charges.
The National Assembly of Panama has passed a bill to grant a moratorium period of six months for payment of employee-employer contributions.
From a press release from the National Assembly of Panama:
The National Assembly approved on its third reading in the House, Bill 396, which basic objective is to grant a moratorium period of six months for full payment of employee-employer contributions and the total balances of the agreement or payment arrangements agreed with Social Security Fund, relating to this category, and for the payment of professional risk premiums and other contributions owed to the Social Security Fund, which are overdue at the time of entry into force of the law.
Laboratorios Microsules is a Uruguayan company, which has been in both, the local and international market for twenty years, manufacturing, synthesising, commercialising and distributing medicines for animal health.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (00598) 98165211 - (00598) 99728874
Magnalex Abogados is a Costa Rican Law Firm with extensive experience in a broad spectrum of legal services. For over 28 years, our Law Firm has been committed to providing top-quality legal advice.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica
Phone: (506) 2224 8000 - (506) 2283 3373
As part of the Agritrade Platform, Guatemala will participate for the 27th time in PMA Fresh Summit, the most important international trade show and convention of fruits and vegetables in the United States, which will take place at Anaheim Convention Center, California from October 17th to 19th.
At LEXINCORP we specialize in providing legal advisory services to large and medium sized corporations operating in Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua
Phone: (503) 2250 7800