LatAm
Garrigues named Peru Most Innovative Law Firm of the Year at the IFLR Americas Awards
Garrigues scooped both Peru Most Innovative Law Firm of the Year and Capital Markets Firm of the Year in the Andes at the Americas Awards organized by International Financial Law Review (IFLR). The awards ceremony, held last night in New York, recognized the advice provided by firms in the region that participated in the most innovative cross-border transactions and that have demonstrated their knowledge and expertise in strategic areas, such as M&A or banking and finance.Mexico establishes new penalties for taxpayers that issue tax receipts to justify simulated transactions
On May 16, 2019, the government published in the Official Journal of the Federation the Decree reforming article 113.III and adding an article 113.bis to the Federal Tax Code, in order to reinforce the measures being taken against the purchase and sale of invoices to justify simulated transactions in Mexico.Helms-Burton act: what does it involve and what defense and reaction mechanisms do the European individuals and companies have
On May 2, 2019, Title III of the Helms-Burton Act came into force, governing the possibility for U.S. citizens affected by the expropriation of properties due to the Cuban revolutionary process to take legal action to claim compensation from the people who traffic in them. The U.S. International Claims Settlement Registry has identified some 6,000 potential claims. In this scenario, it is key to know the duties of information and relationship with the European Union that can be demanded of the addressees of such claims; as well as to plan in advance the reactive judicial measures that may be initiated in the EU to neutralize or mitigate the effects that these procedures may have for individuals and companies from the EU Member States.Garrigues wins Latin Lawyer’s Deal of the Year for the Bogotá metro project
Garrigues took the award for Latin American Deal of the Year in the banking and finance category for its advice to Metro de Bogotá and Financiera de Desarrollo Nacional on the financing of the largest urban transport project in Colombia. The awards are presented annually in São Paulo by Latin Lawyer, one of the most prestigious publications in the sector, and bring together the main firms and companies in the region.Shareholders only have the right to inspect certain documents and content
In Colombian public limited companies and simplified joint stock companies, inspection rights are subject to a series of rules regarding the documents and content that can be inspected. We recommend preparing regulations setting out how shareholders can exercise their rights in these cases. To that end, key points to be borne in mind are set out below.DIAN issues a reminder of the mandatory deadlines for renewing the registration of not-for-profit entities for the purposes of the Special Tax Regime
The Directorate of National Taxes and Customs (DIAN) recently issued a reminder to taxpayers of the deadlines - established in Decree no. 2442 of December 27, 2018 issued by the Ministry of Finance - by which not-for-profit entities (ESAL) and Cooperative Sector Entities (ESCOOP) must update their registration in order to remain under the Special Tax Regime. Failure to complete this step can result in this special regime becoming non-applicable and loss of the benefits that it offers.Garrigues wins the IJGlobal Award for best infrastructure firm in Latin America
Garrigues was named the best infrastructure firm in Latin America as part of the annual IJGlobal Awards, which recognize the region’s best advisors in infrastructure and project finance. The award was given in ceremony held in New York, which brought together the main companies and firms operating in Latin America.Regulations are issued on the use of cloud computing for financial services in Colombia
In response to the digital transformation of services for the storage, processing and use of data, and to promote the use of cloud computing for the provision of financial services, the Colombian Finance Authority (Superintendencia Financiera de Colombia or “SFC”) has issued External Circular no. 005- 2019, in which it sets out instructions relating to the use of cloud computing services.