6 LatAm offices report changes in May 2022

The legal and accounting teams at Biz Latin Hub’s offices in Argentina, Bolivia, Brazil, Chile, Colombia and Ecuador reported the following regulatory updates in May 2022 that could affect your business interests.

At Biz Latin Hub our multilingual teams of corporate support specialists based throughout Latin America and the Caribbean offer tailored packages of integrated back-office services, including legal, accounting, and recruitment, among other solutions to assist companies and investors doing business in the region.

If you are interested in doing business in Latin America and would like to learn more about how we can help you bridge cultural and linguistic barriers when entering the region, as well as support ongoing operations, contact us today.

Argentina

The Argentinean government and its institutions introduced two notable regulatory updates in May:

Regulatory activity	Outcomes for business
Communication “A” 7506/2022 Published: 05.05.2022	Financial entities can not do or facilitate operations with digital assets to their clients who are not authorized by a competent national regulatory authority or by the central bank.
Listing of foreign companies – CNV Published: 11.05.2022	They created special regulations to attract foreign investment to the Argentine capital market.

Bolivia

The Bolivian government and its institutions introduced three notable regulatory updates in May:

Regulatory activity	Outcomes for business
Ministerial Resolution 544/22 Published: 17.05.22	Regulates the salary increase 2022 management in the private sector
Tax Directory Resolution N°102200000011 Published: 23.05.2022	Re-categorization and categorization confirmation of taxpayers PRICO- GRACO and RESTO
Administrative Resolution SEPREC N°094/2022 Published: 26.05.2022	Extension of Commercial Registry Number Renewal for companies  until June 30th, 2022

Brazil

The Brazilian government and its institutions introduced one notable regulatory update in May:

Regulatory activity	Outcomes for business
Normative Instruction 2082 of the Federal Revenue Office Published: 18.05.2022	This NI grants the postponement by Brazilian Government of the date or closing of 2021 Accounting books and registration of the Approval of such by companies via Shareholders Meeting (Annual Entity Compliance)

Chile

The Chilean Government and its institutions introduced one notable regulatory update in May:

Regulatory activity	Outcomes for business
Law 21.441 Published: 09.05.2022	Extends Bereavement for workers when parents die + incorporates the same benefit in case of death of brothers/sisters.

Colombia

The Colombian Government and its institutions introduced three notable regulatory updates in May:

Regulatory activity	Outcomes for business
Decree 728 Published: 12.05.2022	It sets forth the minimum annual returns on loans granted by the companies to their partners or shareholders, or these to the company.
Decree 678 (Finance Ministry) Published: 02.05.2022	Establishes modifications regarding the registration, modification and update of the RUT.
OECD – National Urban Policy Review of Colombia. Published: 27.05.2022	“This OECD National Urban Policy Review of Colombia provides a comprehensive assessment of the country’s national urban policy ‘the System of Cities’ and of different sectoral policies that affect urban life: transport, housing, land use, and digitalisation. Colombia has entered the 2020s facing five intertwined crises: the COVID-19 pandemic, rising levels of poverty and inequality, a wave of mass international migration, the peace process consolidation, and the climate emergency…”

Ecuador

The Ecuadorian Government and its institutions introduced one notable regulatory update in May:

Regulatory activity	Outcomes for business
Resolution No. NAC-DGERCGC22-00000020 Published: 25.05.2022	Establish the rules that regulate the procedure, conditions and requirements for the refund of Value Added Tax (VAT) to direct suppliers of exporters of goods and suppliers directors of companies that are owned by exporters that are part of the same production chain until their export.

Biz Latin Hub can support you and your business in Latin America

At Biz Latin Hub, we have a multilingual team for legal, accounting, recruitment and company formation services, ready and waiting to support your business efforts in the Caribbean and Latin America. Our broad range of services allow our clients to do business with the peace-of-mind that they have checked all the commercial boxes, and that they are compliant with all the relevant legislative and regulatory criteria.

To learn more about how we can assist you in doing business in Latin America, contact us.

Also, you can learn more about our team of professionals and how they are enabling commercial growth across Latin America.