Our legal and accounting experts at Biz Latin Hub’s offices in Bolivia, Chile, Mexico, Paraguay, and Peru report the following important regulatory updates for November 2020.
At Biz Latin Hub we provide comprehensive multilingual legal, accounting, and back-office support to foreign companies operating in Latin America or looking to enter the region.
For more information on how we can support your commercial needs, contact us today.
Table of Contents
Bolivia
The Bolivian government and its institutions introduced two notable regulatory update in November:
| Regulatory activity | Outcomes for business |
| Decree Supreme N°4401 Published: Nov 25, 2020 | Promotes measures for equal opportunities regarding access to employment, remuneration and equal treatment at work between women and men |
| Decree Supreme N°4404 Published: Nov 29, 2020 | Establishes protocols and biosafety measures, for the National Health System, economic activities, labor hours and others in order to protect Bolivians’ health and life during the COVID-19 pandemic, in the preparation stage for an eventual increase in cases |
Chile
The Chilean government and its institutions introduced two notable regulatory updates in November:
| Regulatory activity | Outcomes for business |
| Law 21.282 Published: 03 Nov, 2020 | Declares each year’s December 19th as National Anti-Femicide Day. |
| Law 21.283 Published: 07 Nov, 2020 | Adjusts the Minimum Monthly Legal Wage to CLP 326.500 (USD 430 per month) |
Mexico
The Mexican government and its institutions introduced one notable regulatory update in November.
| Regulatory activity | Outcomes for business |
| Mexican Senate approves Federal Law for the regulation of cannabis Announced: 19 Nov, 2020 | This a major step for the legalization of cannabis in Mexico. The project will now be discussed by the Congress (Deputies), with hopes to be fully approved and entering into force in 2021. This project considers the following: a) Legalizing the recreational use of cannabis for legal adults b) Creating the Mexican Institute for the Regulation of Cannabis, which will grant permits for the use of cannabis and licenses for its sale c) Granting licenses for the production, distribution and sale of hemp and CBD d) Granting licenses for the production, distribution and sale of cannabis |
Paraguay
The Paraguayan government and its institutions introduced two notable regulatory updates in November.
| Regulatory activity | Outcomes for business |
General Resolution 70/2020 Published: 05 Nov, 2020 | Establishes the form of presentation of the forms related to dividends and tax profits |
| Law 6655/2020 Published: 26 Nov, 2020 | Provides for the temporary obligatory of the use of hygienic masks or protective elements that covers the mouth, chin and nose and the fulfillment of the protection measures against COVID 19 |
Peru
The Peruvian government and its institutions introduced two notable regulatory update in November.
| Regulatory activity | Outcomes for business |
| Supreme Decree 342-2020-EF Published: 05 Nov, 2020 | Establishes the inclusion of some fertilizing products as exempted from IVA (magnesium sulphate, ammonium nitrate, double salts, among others) |
| Supreme Decree 349-2020-EF Published: 22 Nov, 2020 | Approves the issue of internal and external bonds for up to $4 billion (USD), with the objective to finance Covid prevention measures, and to help in the reactivation of the economy. This follows the earlier reintroduction on 05 October, 2020, of international travel to the following destinations: Bolivia, Colombia, Chile, Ecuador, Panama, Paraguay, and Uruguay. |
Contact our corporate legal team to discuss how Biz Latin Hub can support you
At Biz Latin Hub, our multilingual accounting and legal professionals are able to offer expert support to foreign businesses throughout Latin America and the Caribbean. With our comprehensive portfolio of company formation and back-office services, our clients do business safe in the knowledge they 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.
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The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
