The legal and accounting teams at Biz Latin Hub’s offices in Bolivia, Brazil, Chile, and the Dominican Republic report the following regulatory updates for March 2021 that could affect your business interests.
At Biz Latin Hub our multilingual teams based throughout Latin America and the Caribbean offer legal, accounting, and other back-office support to companies and investors operating in or looking to enter the region.
If you would like to learn more about how we can assist your international expansion and help you build your business, contact us today.
Bolivia
The Bolivian government and its institutions introduced two notable regulatory updates in March:
| Regulatory activity | Outcomes for business |
| Ministerial Resolution 186/2021 Published: March 04, 2021 | New regulations dictating that companies’ bio-safety protocols be submitted before the Bolivian Ministry of Labor |
| Ministerial Resolution 320/2021 Published: Mar 31, 2021 | Extends the deadline for submitting those bio-safety protocols before the Bolivian Ministry of Labor until May 31st, 2021 |
Brazil
The Brazilian government and its institutions introduced one notable regulatory update in March:
| Regulatory activity | Outcomes for business |
| State of Sao Paulo Decree No. 65.563/21 Published: 11 March, 2021 | All public entities will remain closed in the State of Sao Paulo by April 11th. When available, electronic services will be working normally |
Chile
The Chilean government and its institutions introduced two notable regulatory updates recently:
| Regulatory activity | Outcomes for business |
Ley 21.305 Published: February 13, 2021 | Establishes the first National Plan for Energy Efficiency |
| Ley 21.317 Published: March 17, 2021 | Allows for upcoming local elections to take place on two separate days |
Dominican Republic
The Dominican government and its institutions introduced one notable regulatory update in March:
| Regulatory activity | Outcomes for business |
| Ley 12-21 Approved: March 03, 2021 | Creates a Free Trade Zone for Border Development, providing a special tax regimen for companies that establish business operations in any of provinces that border with Haiti, namely: Pedernales, Independencia, Elías Piña, Dajabón, Montecristi, Santiago Rodríguez y Bahoruco. Pursuant to this legislation, companies classified to the special tax regimen are exempt, for up to 30 years, from paying income tax, excise taxes, capital gains tax on the transfer of shares and custom duties/VAT on the import or local acquisition of equipment necessary for the establishment and operation of the company, as well as other tax incentives. |
Contact Biz Latin Hub to discuss how we can support you
At Biz Latin Hub, our multilingual accounting and legal professionals provide invaluable specialist commercial representation and expert support for doing business in Latin America and the Caribbean. Our full suite of market entry and back-office services leaves our clients safe in the knowledge they have all commercial bases covered and are fully compliant with current legislation and regulatory requirements.
Contact us now to learn more about how we can help you comply with the regulatory environment in Latin America and the Caribbean.
Learn more about the teams of professionals we have enabling commercial expansion across Latin America.
