The bill being discussed in Costa Rica basically seeks to extinguish the assets of organized crime, but there are those who claim that as proposed, it puts at risk the presumption of innocence of individuals.
The extinction of domain is a concept that in practice refers to seizing or confiscating assets linked to criminal activities, and then transferring them in favor of the State.
Adverse court decisions against companies, social and political conflicts and fiscal issues are some of the factors that are impeding the development of productive projects in Central American countries.
One of the latest court decisions affecting companies with investments in the region was that of Minera Petaquilla, in Panama. The contract that this company had signed with the Panamanian State was declared unconstitutional last week.
It has been reported that in the last four years on average between 23 and 25 brands per day have been registered, a figure which includes both domestic and foreign brands.
According to figures from the Directorate General of Intellectual Property (DGPI), between 2014 and 2017, a total of 23,466 brands were registered, and it is estimated that the number of registrations varies between 5,800 and 6,000 a year.
Following the transfer by Abdul Waked of Gese's majority shareholding to Fundación Publicando Historia, the Editorial Group's access restrictions to the United States financial system have been lifted.
From a statement by the US ambassador in Panama:
I and my Embassy colleagues in Panama congratulate all parties involved in the successful effort to reestablish unfettered access to markets and the financial system of the United States on behalf of the newspapers of the La Estrella de Panama and El Siglo Editorial Group (GESE).
In Honduras, the company in charge of the controversial Agua Zarca project has announced the decision about its future as a "goodwill gesture that will help reduce tension and facilitate a solution".
From a statement issued by the hydroelectric company Agua Zarca:
Tegucigalpa, July 6, 2017.Hydropower Agua Zarca announced today its decision to suspend the hydroelectric project.This is a gesture of goodwill that will help to reduce tension and facilitate a solution regarding the future of this clean and renewable energy initiative.
The restrictions currently imposed on Guatemala in terms of air freedoms constitute a limiting factor to the competitiveness of its productive sectors.
EDITORIAL
In a recent webinar entitled "Open Skies Agreement and its Impact on Competitiveness"organized by Agexport, evidence was presented of the negative impact on Guatemala of having ratified only"... three of these freedoms(with the country only allowed to embark and disembark passengers and cargo in the state to which the airline belongs and at points within a reasonably direct route), and the limitations that this presents."
A bill originating from the executive branch proposes stimulating the purchase of equipment and agricultural materials by reducing sales tax from 15% to 3%.
The bill on Agrifood submitted to Congress proposes a series of measures to stimulate the agricultural sector, including a reduction from 15% to 3% in the sales tax on the purchase of machinery and other materials.
On August 15 pre-qualification documents will be received in Honduras for the project involving property registration, vehicle inspections, supply of number plates, driving licenses, traffic violations and fine collections.
From a statement issued by the Commission for the Promotion of Public Private Partnership (COALIANZA):
On August 15, the Commission for the Promotion of Public Private Partnerships (COALIANZA) will be receiving pre-qualification documents for the Project on Operations, Finance and Administration of the Registry for Vehicular Property, at the national level, and Implementation of Vehicle Inspection Centers, Supply of Number Plates, Driving Licenses, Modernization of the Penalties System for Traffic Violations and Modernization of Fine Collection.
Aguilar Castillo Love is a leading international law firm with offices in Central America and Ecuador.
Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Central America
Phone: (505) 2225 8748
In order to protect sources of employment the Panamanian government wants the US to grant permissions so that Waked Group companies can temporarily transact with US citizens and businesses.
From a statement issued by the Ministry of Economy and Finance (MEF):
Objective is to protect the jobs of Waked companies
Treasury Department has been asked to grant a license.
The identification of Grupo Waked in a money laundering network could result in significant changes in the representations of brands marketed in the country.
An article on Prensa.com cites Jorge Garcia Icaza, president of the Chamber of Commerce, Industries and Agriculture of Panama, who emphasized that restraint should excerised when dealing with the case in order to minimize damage which it is estimated could be caused, especially in relation to jobs in the companies under question.
Costa Rica and Guatemala are on the list of 23 countries that the US government considers necessary to monitor for violations of intellectual property rights.
On April 12, 2016, the Office of the US Trade Representative (USTR) released its 2016 Special 301 Report. The Special 301 Report is the result of an annual review of the state of intellectual property rights (IPR) protection and enforcement in U.S. trading partners around the world.
Legal tax engineering is a mandatory business practice for anyone who wants to be competitive in today's globalized world, and only those who are not entrepreneurs can afford to refuse to acknowledge this fact.
EDITORIAL
With the same firmness that we criticize businesspeople who evade taxes or bribe officials to get a contract, we must defend every business practice which is framed within the law to pursue the best use of available resources to generate wealth through the production of goods and services, which is what businesses do.
Competing with multinationals under DR-CAFTA requires companies to comply with all the necessary processes to protect their brands, processes and products.
The arrival of multinational companies in Central America competing in legal equality with local or regional firms as a result of DR-CAFTA, highlights gaps in legal implementation and best practices for business on issues such as the protection of trademarks and intellectual property.
The figure is an estimate made by the Intelligence Directorate in Costa Rica released by the US State Department, along with information that indicates a rise in criminal organizations based in the country, and little capacity to combat them.
Money laundering is a criminal activity that handles amounts that are difficult to measure. For example, the report "Illicit Financial Flows from Developing Countries: 2004-2013" by Global Financial Integrity says that during the aforementioned 10 year period, the flow of illicit money from Costa Rica exceeded $11 billion, that is about $1.1 billion a year.