Nicaragua
Arias Nicaragua advises Banco Lafise Bancentro on a DPR transaction
August, 2019
Arias acted as Nicaraguan counsel to Banco Lafise Bancentro in the sale, assignment, transfer, and conveyance of all the bank´s Diversified Payment Rights and all collections thereunder to a Cayman Islands entity, as well as an issuance of bonds with the participation of the Bank of New York Mellon,...
Read moreNC: Grace period for the payment of capital gain tax for the transfer of assets subject to registry
May, 2019
Pursuant to Law 987 Law of Amendments and Additions to Law 822, "Nicaraguan Tax Law" (hereinafter "Law 987"), the tax rate for the transfer of assets subject to registry assets was increased. Notwithstanding the foregoing, the sixth Article of the Ordinal II "Transitional Provisions" of this La...
Read moreNC: No increase to minimum wages
March, 2019
Minimum wages are reviewed every six months, in accordance with applicable legislation. Nevertheless, according to Resolution CNSM-07/03/19of the National Minimum Wage Commission, dated March 7th, the Commission will remain in permanent session and will meet monthly, during a six (6) months period,...
Read moreNC: New changes to social security
January, 2019
Today´s resolution from the Directive Council of the Nicaraguan Social Security Institute (INSS, in Spanish) approved the following changes to the social security system:Increase to employer and worker´s contributions to the Integral Regime.Contributions of employers with more than 50 employees, inc...
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