After the Constitutional Court decided to keep the "Extracción Minera Fénix" project suspended, the private sector is asking the authorities to start the community consultation process as soon as possible, in an objective and clear way.
The operations of the mine located in the department of Izabal were suspended since July 2019 as a result of a legal appeal filed by a group of neighbors, who argued that the community consultation process for the operation of the mining project had not been exhausted.
The Attorney General has denounced the existence of barriers that prevent white-collar crime and in particular corruption within the state from being pursued effectively.
The authorization from a judge for a case of public documents to be opened as part of an investigation, and the adoption of appeals even when the law states that they are not appropriate, are some of the legal obstacles that delay the processing of cases of white collar crime.
The Chamber of Industries in Costa Rica has filed an administrative appeal against the decision by the Treasury department to require major contributors to produce records of their shareholders.
From a statement issued by the Chamber of Industries of Costa Rica (ICRC):
Chamber of Industries files for judicial review against provision of information on shareholders
The General Department of Taxation has extended until March 19th the deadline for companies classified as large taxpayers to provide the information required for tax purposes.
The General Department of Taxation has tightened controls on large taxpayers, implementing a new standard called Multifunctional Scheduled Objective Analysis (AMPO by its initials in Spanish), through which it requires companies to submit information such as "...
The private sector in Costa Rica is having doubts over the ability of the Treasury to prevent information leaks, if approval is given to a requirement for companies to disclose shareholder information.
The business sector fears that the authorities will not be able to control possible leaks of confidential data which companies must provide if the decree proposed by the Directorate General of Taxation is approved.
The event which will be held from February 22nd to 24th in San José will focus on the practice of international arbitration in resolving contractual problems in construction projects.
From a statement issued by the International Chamber of Commerce in Costa Rica (ICC):
Among the topics to be discussed during this conference are arbitration in Latin America and its current status, recognition and enforcement of foreign awards in Latin America, the rules of the ICC Dispute Board: the case of the Channel Tunnel, the characteristics of disputes in the construction industry, the future of the Committees of Disputes in Latin America, the resolution of disputes in FIDIC construction contracts, among other things.
The Law on Legal Stability for Investments has been approved, which aims to improve confidence in the country preventing changes to incentive schemes granted to foreign companies.
From a statement issued by the Legislative Assembly of El Salvador:
Legislative Plenary approves Legal Stability Law for Investment
This is another important step forward in the legislative endeavor, as with this approval legal stability is granted to entrepreneurs who decide to invest in the country. Using this tool, legislators will be able to give domestic and foreign businessmen, certainty that, once their investment project is approved, no one can change the rules of the game.
On the eve of the day fixed as the deadline for Panama to remove Colombia from its list of tax havens, the Chamber of Commerce, Industries and Agriculture says that the country is united in the defense of its interests.
A statement from the Chamber of Commerce, Industries and Agriculture (CCIYAP):
A COUNTRY OF SERVICES UNITED IN THE DEFENSE OF THEIR INTERESTS
If successful, the bill being discussed in the Legislative Assembly of Costa Rica, will make shareholders of corporations liable in cases of fraud.
The Legal Affairs Committee has endorsed a bill entitled Lifting the Veil of the Legal Personality, to be discussed in the plenary of the Legislative Assembly. The initiative aims to reform the Code of Commerce so that shareholders of corporations will be held accountable for the acts of the company in the event of any breach or violation of rights.
Potential investments in land next to a route that has still not been defined will not be realized until there is certainty about what will happen to those properties.
From a statement issued by the Nicaraguan Foundation for Economic and Social Development:
If built, the Interoceanic Canal would have impacts on the national economy which are difficult to pin down because of the magnitude of the project and the limited information available.
The Taxation Office has sent to consultation a resolution that would require corporations to disclose information about their shareholders.
The Directorate General of Taxation has sent to consultation a resolution demanding that every society must report who their shareholders are. This measure, according to Carlos Vargas, chief of Taxation, aims to verify payment of transfer tax, in addition to meeting the standards of the Organization for Economic Cooperation and Development.
The Salvadoran Foundation for Economic and Social Development, Fusades, has presented a report entitled "Legal and Institutional Situation" for the second half of 2011.
The Department of Legal Studies, DEL, this morning released the Report of Legal and Institutional Situation of the second half of 2011, by which the legal and institutional activity in the country is systematically tracked.
Requests are being made for confirmation that new taxes to be imposed under the tax reform bill will not affect companies established in free zones in Costa Rica before 2015.
A press release by several business associations and municipalities states:
Business and Guanacaste Municipalities are still seeking clarification on the text of the Tax Reform
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