I.- LEGAL NEWS
Guidelines on probity and civil capacity of natural and legal persons, who, in their capacity as legal representatives or administrators, are part of the companies subject to control and surveillance of the Superintendency of Companies, Securities and Insurance.
Source: Second Supplement to the Official Registry No. 394, September 12, 2023
The Superintendency of Companies, Securities and Insurance (SCVS) has issued Resolution No. SCVS-INS-DNCDN-2023-0019, published in the Official Registry Second Supplement No. 394 of Tuesday, September 12, 2023, called “Probity Guidelines and civil capacity of natural and legal persons, who in their capacity as legal representatives or administrators, are part of the companies subject to control and surveillance of the Superintendency of Companies, Securities and Insurance ” ; through which, it has established as requirements for natural or legal persons who exercise the legal representation of a company, the presentation to the Commercial Registry of the corresponding canton or to the Companies Registry of the SCVS (in the cases of SAS) of these documents:
- Certificate of not appearing in the database of people with a conviction, issued by the UAFE.
- PDF of search results and proof of not being found in the international public lists of the OFFICE OF FOREING ASSETS CONTROL – OFAC; and, UNITED NATIONS SECURITY COUNCIL.
The aforementioned documents must be attached to the file document in which the appointment of the legal representative has been resolved and it will also be mandatory to present it annually along with the balance sheets and reports that must be uploaded to the SCVS website.
Click to read the complete regulations.
Reforms applied to the identification, marking, authentication, tracking and fiscal traceability scheme.
Source: Second Supplement to the Official Registry. No. 396, September 14, 2023
The Internal Revenue Service, through Resolution No. NAC-DGERCGC23-00000024, made several reforms to Resolution No. NAC-DGERCGC21-00000019, published in the Fourth Supplement to the Official Registry No. 432 of April 15, 2021, which is the rule that refers to the identification, marking, authentication, tracking and fiscal traceability scheme regarding alcoholic beverages, industrial beer and cigarettes, domestically produced and/or imported for consumption, taxed with the Special Consumption Tax.
Imported industrial beer is excluded from this traceability scheme.
Click to read the complete regulations.
Reforms applied to the Annex on Operations with Related Parties and Comprehensive Transfer Pricing Report.
Source: Second Supplement to the Official Registry. No. 396, September 14, 2023
Through Resolution No. NAC-DGERCGC23-00000025, the Internal Revenue Service made reforms to Resolution No. NAC-DGERCGC15-00000455, published in the Second Supplement of the Official Registry No. 511 of May 29, 2015, which establishes the content of the Annex on Operations with Related Parties and Comprehensive Transfer Pricing Report. Below is a summary:
- Taxable persons who are not exempt from the transfer pricing regime and who, during a fiscal period, have carried out transactions with related entities for a cumulative amount that exceeds three million US dollars (USD 3,000,000.00) have the obligation to present the “Annex of Operations with Related Parties”.
- If these operations with related entities exceed ten million US dollars (USD 10,000,000.00), said taxpayers are also required to present the “Comprehensive Transfer Pricing Report”, in addition to the aforementioned Annex on Operations with Related Parties.
- For the purposes of calculating the accumulated amounts referred to in the preceding points, the following exceptions are made: cash payments, in United States dollars, of capital gains (dividends) or liabilities (capital payments); assets, liabilities or expenses of the taxpayer attributable to the activity generating such income; among others.
- It is also provided that “the taxpayer may not present a new Comprehensive Transfer Pricing Report with respect to a fiscal year in which the Tax Administration is in exercise or has exercised its determining power.”
- In addition, it is provided that “along with the Comprehensive Transfer Pricing Report, all work papers carried out in the transfer pricing analysis must be presented.”
Click to read the complete regulations.
II.- ARTICLE
Obligations of the insured in the insurance contract: declaration of the state of the risk
By: Abg. Jorge Lince Manrique
The insurance contract, like any other legal business regulated in our legislation, entails and stipulates a series of burdens or obligations that must be strictly fulfilled, whether these are required before the contract is perfected -negotiation stage or previous phase-. During the validity of the contract, as well as for its execution, which in the case of the insurance contract is the stage in which the incident occurred, the insured demands the insurer to pay the compensation due. As for the insured, he is obliged to objectively and honestly declare the state of the risk; That is, it has the obligation to reveal to the insurance company the intrinsic conditions of the insured object, the nature of its state, the real physical conditions that characterize it as well as the exogenous factors that surround it.
