Costa Rica’s Legislative Assembly is currently analyzing motions for the modification of the Bill of law for the Regulation of Insurance Contracts. The purpose of this project is to update national legislation on this matter, which dates from beginning of 20^th century. On its edition of August 27^th, La Nación newspaper consulted the opinion on this topic of Facio & Cañas’ Chairman, Víctor Garita.

Earning in US dollars can cause an increase or decrease in the employee’s income when converting to colones (Costa Rica’s currency), according to official rate’s variations. However, it is not mandatory to employers to revert this situation assuming the currency risk, since from the time that the worker freely accepts to be paid in dollars, also agrees to participate in the foreign exchange market and in a valid speculative activity.

The reform to the free trade law will not only benefit industries installed in rural areas, but also those of strategic sectors. Non exporting enterprises that fulfill the necessary requirements can applied to this regimen and enjoy the tax exemptions included in the modification of the law.

Next August 15th Costa Rica will celebrate Mother’s Day. Coincidentally with this situation, the 2010 calendar brought the peculiarity that several obligatory payment holidays fall on weekends.

In many occasions, the regulations that rule condominiums are imprecise.  This generates doubts in people living in those kinds of propertie, on how internal rules should be obey.