The so called “break-even point” is a relevant concept in business economy. Simply speaking, a company is in break-even point when the number of product units sold equals its Total Fixed Cost, divided by the respective Contribution Margin per Unit (i.e ...
The Ministry of Finance published Decree 520 of April 6, 2020, modifying the dates for filing and paying income tax returns of large taxpayers and legal entities, as well as the annual statement of assets held abroad. Accordingly, Decree 520 of 2020 establishes that the income tax returns of large taxpayers will be filed simultaneously with the third installment instead of the second one, as was previously provided by Decree 435, published on March 19, 2020 ...
The outbreak of Coronavirus (COVID-19) which has been recently declared as a Pandemic by the World Health Organization, has affected our country and the entire world.In Guatemala, the Government has been taking an active role by implementing progressive measures to prevent the spread of the virus, measures that will have a significant impact on the country's economy ...
The health crisis caused by COVID-19 (better known as “Coronavirus”) has had a significant impact on both global and local trade. In our country, the first case, which was confirmed on March 9, triggered the implementation of significant sanitary measures that led to the necessary temporary closure of multiple enterprises, as well as limited the movement of the population, and restricted commercial [1] and governmental [2] activity ...
The new virus COVID-19, also known as coronavirus, is spreading exponentially all over the world, also in Brazil. The outbreak is affecting the way in which our clients and their clients conduct their businesses, and the behavior of each and every one of us drastically. The virus is not only tragic for those, whose health is being affected, but also for large parts of the economy, such as the tourism industry, airlines and general retail (other than nutrition-related) ...
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 ...
At LEĜA we are monitoring the measures that are taken to face the crisis generated by COVID-19 and we will be sending updates to our reports and comments divided by practice areas and industry so that you can easily find the information that is relevant to you. Please note that it is our policy to report announced measures only when they are translated into acts published in the Official Gazette ...
Rule 2-2020, as amended by Rule 3-2020 of the Superintendency of Banks of Panama (hereinafter, “SBP,” for its initials in Spanish). On March 16, 2020, the SBP issued Rule 2-2020, which was subsequently amended by Rule 3-2020 (here in after referred to as “Rule 2-2020") and "establishes additional, exceptional and temporary measures for compliance with the provisions contained in Rule 4-2013 on credit risk".” ...
On November 27, 2020, the Federal Official Gazette published Resolution No. 50, by means of which the National Mining Agency (“ANM”) amends Resolution No. 46/2020, which suspended the deadlines of certain procedural and material acts and the extension of mining titles. According to the new wording, the period of certain procedural and material acts as well as the tacit approval by the Agency is suspended from March 20, 2020 to December 31, 2020 ...
On January 22, 2021, the Federal Official Gazette published Resolution No. 55, by means of which the National Mining Agency (“ANM”) amends Resolutions No. 28/2020 and 46/2020, which deal with the suspension of deadlines of certain procedural and material acts under its competence, and the extension of the terms of mineral titles, due to the current COVID-19 pandemic ...
In planning for the post-quarantine return to business activities, the Ministry of Labor (MITRADEL, for its initials in Spanish) based on Executive Decree No. 78 of March 16, 2020, has required business to create Special Committees on Health and Hygiene for the Prevention and Care of COVID-19. These committees must include representatives for both management and labor ...
Panama, May 4, 2020. The Superintendence of the Securities Market (the “SMV”) has implemented measures that allow its regulated entities to continue with their financial activities that, in accordance to the Executive Decree No° 507 of 24 March 2020, are exempted from the measures adopted by the Executive Branch for the COVID-19 pandemic. Remote Working In accordance to General Resolution SMV No ...
An article establishing a procedure for the procurement of medical supplies was recently introduced. This new provision (Resolution No 53960) amended Resolution No 38941-2006-JD of February of 2006, which is the general procurement regulation for the Social Security Administration (CSS for its initials in Spanish) ...
Through Executive Decree No. 145 of 1 May 2020 (the “Executive Decree”), enacted in Official Gazette 29,015 of the same date, the Panamanian Government established certain measures related to lease agreements and eviction procedures ...
In this Informative Guide you will find important information about the following: tourist stays, visas and residence permits, work permits, traveling, and mobility inside the country including curfews, circulation permits (Salvoconductos), and driver’s licenses. Tourist stays Panamanian authorities have informed that tourist who have expired stays from 13 March 2020, as a consequence of the Covid-19, will not be fined. And they will be able to circulate ...
Superintendence of the Securities Market The Superintendence of the Securities Market (the “SMV”) has established the following measures for working hours and presentation and process of filings before such entity as part of the governmental effort to avoid the spread of COVID-19:[1] Maintain the special working hours of the SMV from 8:00 a.m. to 12:00 p.m. until there is a new announcement by the SMV ...
Updated on June 1, 2020 National Immigration Authority: Residence Permitsare valid until June 7, 2020. This measure is in place since March 13. The suspension of administrative processesanduser service will belifted from June 8. In-person user service will be restored gradually and progressively: Between June 8 and June 12, only attorneys will be allowed to visit, between the hours of 7:00 a.m. and 4:00 p.m ...
In order to allow the importation of medicines and other products for human health,during the State of Emergency, the National Directorate of Pharmacy and Drugs (DNFYD) of the Ministry of Health, has issued Resolution 280 of April 6, 2020 published in Official Gazette No ...
Panama, April 6, 2020. On Tuesday March 24th, 2020, the Executive Decree 251 of the same date was published in Official Gazette 28987-A which adopts tax measures to relief the economic effects of the National State of Emergency ...
The National Immigration Authority and the Ministry of Labor extend the measures taken as a result of the State of Emergency due to the COVID-19 pandemic. Residence permits are extended up to May 15th. This extension is in force since March 13th. Reference is made to all permits and tourist stays that expire within the aforementioned period and will not give rise to fines due to expiration ...
Emergency Mitigation Fund (FOME, per its acronym in Spanish) is a fund without legal status of the Ministry of Finance and Public Credit and will aim, within the framework of Decree 417 of 2020, to meet the needs of resources for health care, the adverse effects generated on the productive activity and the need for the economy to continue providing conditions that maintain employment and growth ...
On April 15, 2020, by means of Decree 559 of 2020, the President of the Republic ordered the creation of the Sub-account for emergency mitigation – Covid 19- within the National Fund for Disaster Risk Management. Its purpose will be to finance the provision of goods, services and works required to contain, mitigate and prevent the spread of the adverse effects derived from the COVID-19 pandemic in the Colombian population in condition of vulnerability ...
For the enactment of CREG Resolution 059, the CREG considered Article 3 of Legislative Decree 517 of 2020. Article 3 of Legislative Decree 517 of 2020 provides for the possibility of CREG to adopt special temporary schemes to defer the payment of invoices issued. In addition, it authorizes CREG to adopt all measures it deems necessary to mitigate the effects of the State of Economic, Social and Ecological Emergency on users and agents in the gas chain ...
The Public Utilities Superintendence submitted to the CREG concerns provided by public utility providers with respect to the provisions of Resolution 058 of 2020. In this regard, the main concern was that both workers in charge of measurement and users have shown reticence regarding the performing of consumptions measurements due to the high possibility of COVID 19 infection ...
The alternative means for reporting the daily offer and the declaration of availability are modified. The definition of "Price Offer and Start-Stop Prices" in numeral 3.1 of the Operation Code, Resolution CREG 025 of 1995, is modified. The new definition is as follows: "Price Offer and Start-Stop PricesThe electronic transmission of data established by CND will be used as the main means for sending information on offers to CND ...
