españolCryptocurrencies are Illegal in GuatemalaMonday, February 22, 2021 After multiple consultations, the Superintendency of Banks announced that virtual currencies or assets such as Bitcoin, Ethereum, Ripple and other similar ones, are not legal tender in the country. The Superintendency of Banks, derived from the different consultations made by economic and financial agents regarding the use of virtual currencies or assets, known as cryptocurrencies, informs the population that in accordance with the Monetary Law, the monetary unit of Guatemala is the Quetzal and only the Bank of Guatemala can issue banknotes and coins within the territory of the Republic, therefore virtual currencies are not legal tender in the country, explains an official statement. Panama: NO to Mandatory Rest Days BillThursday, February 18, 2021 The business sector opposes the bill that intends to stimulate the economy and local tourism, through the establishment of mandatory rest days and salary surcharges on the days of national events. This is Bill 487, which is called "Adopting a temporary regime of economic, cultural and national tourism stimulus, through the establishment of mandatory rest days and salary surcharges on national event days", which was presented to the Panamanian Assembly on September 28, 2020. Guatemala: Endorsement of Financial Leasing RegulationFriday, February 12, 2021 The Congress approved by articles and final wording the Leasing Law, a legal framework that establishes mechanisms for people to lease with option to purchase. With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with option to purchase in the Guatemalan legislation, informed the legislative body. Bill to Reactivate Labor ContractsWednesday, February 10, 2021 In Panama, a legislative project was submitted which intends to gradually reintegrate the employees to their companies, which have already restarted their activities and which in 2020 suspended labor contracts due to the crisis caused by the outbreak of covid-19. According to the legislative body, the bill which legalizes the gradual reintegration of the suspended contract workers to their companies and which will be in force until the end of the year, has been pending in the National Assembly since February 8, after the Minister of Labor, Doris Zapata, delivered it to the Presidency. Tax Amnesty to Reactivate the EconomyTuesday, February 16, 2021 In order to reactivate the Panamanian economy that has been damaged by the outbreak of covid-19, the Ministry of Economy and Finance will present to the National Assembly a bill to extend the tax amnesty and approve new tax relief measures. The Cabinet Council, led by President Laurentino Cortizo Cohen, authorized, today, the Minister of Economy and Finance, Hector Alexander to present to the National Assembly, the bill extending the tax amnesty, as well as new tax relief measures with a view to reactivate the national economy, explains an official document. Labor Market: Bill Moves ForwardFriday, February 12, 2021 In Panama, the first debate was approved in the first debate of the legislative project that intends to gradually reintegrate the employees to their companies, the same that have already restarted their activities and that in 2020 suspended labor contracts due to the crisis caused by the covid-19 outbreak. The bill legalizing the gradual reintegration of suspended contract workers to their companies, which will be in force until the end of the year, has been pending in the National Assembly since February 8, after being submitted to the Presidency by the Minister of Labor, Doris Zapata. Virtual Education: NO to Differential CostsTuesday, February 9, 2021 Since a bill is being discussed in the Assembly of Panama that intends to force all private educational centers to offer discounts to students who receive virtual education, the business sector is opposed to this measure, as it is an attack against free enterprise. The Assembly informed last January 21 that a bill was presented which aims to regulate the percentage of discounts in private schools and universities, if the teaching modality is virtual, blended and face-to-face. Taxes: Adjustments to the Global Income BillFriday, February 5, 2021 By submitting to the Costa Rican Legislative Assembly a new text of the dual global income bill, the Alvarado administration intends to guarantee the tax exemptions that companies operating in the free trade zone regime already benefit from. The dual global income bill that was sent last January 22 to the Assembly created confusion among the deputies. Limited Incentives for Business Start-UpsMonday, February 8, 2021 Two years after the Law to Strengthen Entrepreneurship came into force in Guatemala, only 40 companies have been registered under the figure of Entrepreneurship Companies, a situation that is partly explained by the lack of incentives provided by the legal framework. On January 29, 2019, the Law to Strengthen Entrepreneurship came into force, which provides for the creation of training centers in the country and facilitates access to credit for small entrepreneurs. Financial System at Risk Due to Change in LawsThursday, February 11, 2021 After the Nicaraguan Assembly approved a bill that forces local banks to allow public officials sanctioned by OFAC to have an account, there are fears that the country will be isolated from the international financial system. A statement issued by the National Assembly on February 3 explains that the deputies approved the Law Initiative of Reform and Addition to the Law for the Protection of the Rights of Consumers and Users, a legislative project which guarantees a better and greater protection of the rights of consumers and users in the access to goods and services as a human right recognized by the Nicaraguan State. Optimism for New Financial Leasing LawTuesday, February 16, 2021 Currently, financial leasing operations in Guatemala amount to $1,290 million, but with the approval of the new legal framework the portfolio could increase in the medium term between $1,677 million and $1,935 million. With 101 votes in favor, the Plenary of the Congress of the Republic approved Decree 2-2021, Leasing Law, which regulates leasing with purchase option in the Guatemalan legislation. The legislative endorsement took place in the first days of February 2021. Guatemala: Minimum Wage Unchanged in 2021Monday, January 4, 2021 Arguing that the economic and social effects of the covid-19 pandemic in the country have been considerable, the local authorities decided that during 2021 the minimum wage will not be increased. In no case will workers be able to have a salary lower than that set in Governmental Agreement 250-2020, which goes into effect as of January 1, 2021, the statement from the Ministry of Labor and Social Security points out. Reduced Working Hours: Extension until March 2021Friday, December 11, 2020 The bill that extends until March 2021 the validity of the regulations that allow companies to reduce working hours was approved in the first debate. In March 2020, when the first cases of covid-19 were registered, the "Law Authorizing the Reduction of Working Days following the Declaration of National Emergency" was approved. The validity of this regulation expires in December of this year, but a legislative project was approved in the first debate that seeks to extend the validity of the regulation until March 2021. Advertising: Costs Increase in NicaraguaWednesday, February 3, 2021 Following the entry into force of the Sign Law, agencies engaged in providing printed advertising services estimate that the cost of billboards will increase by 30% due to the new tax payments to be made to the municipalities. According to the Assembly, the purpose of the Law is to establish the legal framework to regulate the advertising and propaganda carried out by means of signs located in the municipalities of the country, based on urban, suburban and rural planning and development, as well as technological advances. U.S. Issues Travel Alert to NicaraguaFriday, February 5, 2021 Because travelers must expect delays before returning to the U.S. and the Nicaraguan government arbitrarily enforces laws, the U.S. government is urging its citizens to reconsider traveling to the Central American country. The Nicaraguan government arbitrarily enforces laws for political purposes. |
|
Thursday, February 25, 2021 - last update: 4:37 pm
|
|
2918
×
![]()