The approval of amendments to the Tax Code and the creation of new taxes have caused upset and criticism among business sectors in El Salvador, accusations that they will affect competitiveness and a better economic performance, and lead to an increased cost of living ...
Private sector, investors and experts agree that the Government of El Salvador has to improve the business climate to attract more national and foreign investment that would contribute to increase the Gross Domestic Product and improve in this way the living conditions of the population ...
Today, we are at a time where two-generation professionals are actively developing and competing with each other within their own career. The well-known "millenials" or generation "Y", born according to some analysts between the years 1981 to 1999, and where the majors of this generation are already in the 36 years of life, and those of the generation X ...
Speaking of compliance with tax obligations comes to our mind the duty to pay taxes (noun) as the Tax on the Transfer of Goods and Provision of Services (VAT) or Income Tax (ISR), which undoubtedly It is true; but equally certain it is that with the payment obligation exists another set of obligations formal or adjective. In this dual context of formal and substantive tax obligations, is of great relevance filing tax returns ...
1525, the year in which the city of San Salvador was founded under the orders of Pedro de Alvarado, in Las Bermudas Valley, a place located between the city of Suchitoto and the city of San Pedro Perulapan. At this moment, you may probably be thinking “Las Bermudas Valley? That place does not ring a bell to me, I thought that San Salvador was founded where our current historical city center is located.” The answer is both yes and no at the same time ...
The incorporation of the Law on Security Interests in El Salvador has the objective to create a registry for security interests, that is to say, the inscription of the security interests’ creation, modification, extension, termination and execution, as well as the publicity of these instruments. The Commercial Value that some brands have, plays a very important role and represents, for some entrepreneurs, a mechanism which enables them to access credits ...
A few years ago artificial intelligence was a concept applied to nothing else but science fiction films, nowadays, it has become a reality for many companies and industries in the development of their commercial, corporate and industrial activities. Before we start to understand the strengths or weaknesses of artificial intelligence and its perspective from the right of intellectual property, it is considered convenient to conceptualize it ...
Dating back to the historical conquests of Alexander the Great in the years 300 B.C., which provided an unprecedented foundation for commercial exchanges between Macedonia, Persia and Egypt, along with the Mongolian Empire’s ambitious Silk Road that ensured, since 130 B.C ...
At the end of the 19th century, mechanisms that transformed natural resources into energy began. The conception of electricity as a private good, which fosters economies of scale and the promotion of transmission and generation megaprojects in the sector, consciously and interestedly omit sustainable energy alternatives from a social and environmental point of view. The causes that leave aside this type of projects are based on the lack of economic profitability for investment interests ...
Reform is in the air for Central America’s tax systems. Alfredo Rodríguez, Diego Martín Menjívar, Armando Manzanares,Carlos Taboada and Diego Salto Van der Laatof Consortium Legal take a look. Central America’s tax systems have certainly evolved over the past few years. Looking ahead, the need to increase fiscal revenues and the lack of modernised systems will trigger further reforms in most of the countries ...
As of August 7th, 2018, the amendments of the Consumer Protection Law (CPL), which includes for the first time, the consumer protection in the field of electronic commerce (e-commerce), taking that as the contracting process or the goods, services and commercial information trading through data communication webs ...
When a debtor, natural or legal person, is constituted in serious circumstances of insolvency in the face of a plurality of creditors, the legislator has foreseen as a mechanism to solve said problem three alternatives of action, depending on the qualities of the insolvent person: the insolvency creditors, bankruptcy and suspension of payments ...
From the end of January to the beginning of February of this year, the Republic of El Salvador declared an emergency due to a coronavirus, not because any case has been detected in the country, but precisely to prevent the entry of people infected with it ...
In our geography in constant transition, resources must be shielded, which is why we must revisit as investors the macro trends as economists call it, prudence in investment matters is imposed without restraining dynamism, only taking it in a gradual and diversified way. Investing in companies or funds with a green seal is one of the strategies that have been outlined for this new year 2020 ...
In our country there are a large number of transnational companies that have their operations in El Salvador, this due to the cost of labor, and the geographical position of our country that allows it to be a point of connection with other jurisdictions. It is common to realize that in many companies foreign personnel are hired and are even placed in leadership positions, so it is important that we are prepared with the applicable legislation in this type of hiring ...
It is normal that an insurance contract does not cover all the different events that are part of the entire risk, since this would imply that the contract was becoming more expensive every day, in the face of the appearance of catastrophic risks or risks that due to different factors do existed before. In this sense, the delimitation of the scope of the insurance contract becomes an important situation to analyze ...
Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and issubject to change. Last update: Wednesday 1 April ...
Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium Legal. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and is subject to change ...
Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium Legal. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and is subject to change ...
Special Report "COVID-19 in Central America" on special measures taken in each country of our region prepared by the multidisciplinary team of Consortium Legal. The information contained in this publication is for information purposes only and does not constitute legal advice. The information is constantly updated and is subject to change ...
Confinement and strict measures of social distancing are now part of the reality of millions of people around the world. Given the uncertainty presented by the world panorama in the economic, political, social and cultural fields, the authorities must go one step further to try to mitigate the severe consequences that the COVID-19 pandemic has caused globally ...
In the Official Gazette No. 27, volume No. 426, dated February 10th, 2020, was published Decree No. 463, which contains the Law of Electronic Commerce – hereinafter “LCE” -, which has the purpose of establishing a legal framework for electronic relations of a commercial, contractual nature, carried out by digital, electronic, or technologically equivalent means. As stipulated in Decree No ...
In El Salvador, the Bitcoin Law was approved by the Legislative Assembly and published in the Official Gazette last June 9th of this year, establishing avacatio legisof ninety days from its publication; in that sense, its entry into force is scheduled for next September 7th ...
On August 27, 2021, the Regulation of the Bitcoin Law (the “Regulation”) was published in the Official Gazette of El Salvador. The Regulations will enter into force on September 8, one day after the entry into force of the Bitcoin Law ...
On August 31st, 2021, with 64 votes the Congress approved the Law regarding the Creation of the Bitcoin Trust (“FIDEBITCOIN”), by means of which a trust is constituted in the Development Bank of the Republic of El Salvador (“BANDESAL”), to benefit the users of the National Wallet, represented by the Republic of El Salvador, whose purpose will be to support the alternatives for bitcoin convertibility provided by the Salvadoran Government ...
