A few weeks before the new magistrates of the Constitutional Court take office in Guatemala, the business sector is asking that the new members of the highest court advocate for a real rule of law and provide legal certainty to investments.
In recent years, Guatemala's Constitutional Court (CC) has gained prominence in the country's economic sphere, as its rulings have affected different investments that were already operating locally.
In El Salvador, the Constitutional Chamber admitted an appeal against the government's decision to terminate the trade agreement, and ordered a temporary suspension of the effects of the cancellation.
After the Salvadoran government decided to finalize the trade agreement with the Asian country in December last year, an act that was not consulted with the productive sector of the country, the union of sugarcane workers filed a lawsuit.
The budget approved by the Judiciary for 2018 includes $2.8 million to acquire 314 new vehicles for the Supreme Court of Justice.
Among the vehicles expected to be purchased in 2018 are 225 motorcycles, 39 pick up trucks, 31 cars, 14 trucks and 5 minibuses.The approved budget includes $2.8 million for this acquisition.
The Superintendency of Competition in El Salvador has pointed out that the businesses MOLSA and HARISA are still forging agreements on sharing the market, having been previously sanctioned for the practice.
Six years after being punished for engaging in anticompetitive practices, the companies MOLSA and HARISA are again under scrutiny by the competition regulator, whose head submitted documents "...
A potential tax on financial transactions would discourage investment in the stock market as securities would be taxed each time they are traded.
In light of a tax proposal that would tax at 0.25% per $750 all kinds of securities, including repos and securitizations, the Stock Exchange of El Salvador (BVES) has expressed its concern for contracts already traded on the market and its dampening effect on investment.
An injunction from the Supreme Court has suspended the process of allocation of frequencies for radio and private television channels.
From a press release issued by the Constitutional Chamber of El Salvador:
Constitutional Chamber suspends auctions of concessions for exploitation of radio spectrum.
In a ruling issued today, the Constitutional Chamber ordered the suspension, from this date, of the effects of the provisions of the Telecommunications Act (Articles 81 final paragraph, 82, 83, 84, 85 and 100), which regulate the procedure for processing applications and granting concessions for the exploitation of radio spectrum as well as the suspension of the effects of those provisions on the Rules of the Telecommunications Act.
The Supreme Court has ruled that the collection of a 1% tax over revenue as minimum payment for income tax is unconstitutional.
The ruling came months after the submission of a claim of unconstitutionality "through a legal team set up by the National Association of Private Enterprise (ANEP), along with union representatives and other affected MSMEs," reported Laprensagrafica.com .
The intervention by the Central American Court of Justice in disputes between state bodies has been declared unconstitutional in El Salvador.
This was established by a ruling signed by the judges of the Constitutional Chamber of the Supreme Court explaining that "the jurisdiction of this Court is not compatible with the Constitution."
The Salvadoran Justice system has upheld the fines imposed on electricity distributors and Digicel by the competition regulator.
"The Administrative Litigation Division of the Supreme Court of Justice (CSJ) ruled in favor of the Superintendency of Competition (SC) in two cases: one in which the existence of anticompetitive practices by electricity distributors CAESS and AES CLESA was determined, and the other at the opening of a sanction process against Digicel, for lack of cooperation ", reported Elmundo.com.sv.
The draft budget for 2014 is 3.9% higher than what that the Salvadoran Congress approved for 2013.
From a press release issued by the Presidency of El Salvador:
The Cabinet today approved the draft 2014 General Budget of the Nation in the amount of $4.679 billion during a meeting at the Presidential House headed by the President, Mauricio Funes.
In deciding whether to approve Fomilenio II the Millennium Challenge Corporation verifies respect for institutions, good governance, transparency and ethics.
These are, according to Mari Carmen Aponte, the U.S. ambassador in El Salvador, some of the requirements which the country must take into account so that a second Millennium Fund is approved. "The eyes of the U.S.
Under the new law, concessions for small-scale electricity generation projects must be approved by the Legislative Assembly of El Salvador.
The legislature approved on August 21 the Regulatory Act for granting concessions for electricity generation projects on a small scale (less than 5MW), which limits the maximum concession period to 50 years and requires that energy projects be approved by the Assembly.
After the Salvadoran Supreme Court suspended the Fonat law, carriers decided to resume their work.
"There is no longer a reason for the strike," said Raul Alfaro, president of the Association of International Cargo Transporters (ASTIC).
"The Chamber accepted a constitutional challenge submitted by the ASTIC against the collection of accident insurance, namely the Fund for Victims of Traffic Accidents (Fonat), from which the Legislature excluded foreign transporters, but not Salvadorans," noted an article in Elsalvador.com.
$500 million is the estimated amount that has not been invested due to bad business climate, poor image and lack of institutional credit, which frightens investors away.
These are the indications of the economist and former president of the Central Reserve Bank, Mauritius Choussy: "In four years, the amount lost adds up to $2 billion, which could have generated more than 150,000 jobs.
Salvadoran businessmen, through ANEP, will submit an appeal to the Constitutional Court against the tax reform in force since January 2012.
"The measure seeks to challenge the legality of two executive changes implemented: a 5% tax on profits of companies operating in the free zone regime and the law of international services (in the form of income tax) and the application of a 1% minimum tax on the total sales of companies that report losses for two consecutive years", noted an article in Laprensagrafica.com.
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