At the end of 2018, Peru approved a legal reform implementing new rules designed to allow vacation leave to be taken in a way that contributes to work/life balance in the private sector. And on the following February 5, Supreme Decree No 002-2019-TR, Regulations on Legislative Decree No 1405, was published, which adds to and clarifies the rules in force and enables companies to identify the main rules they must follow in relation to the taking of vacation entitlement among their workers.
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.
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.
The Colombian Finance Authority has published Draft External Circular No. 03 of 2019 with the aim of promoting alternative ways to make electronic payments, consolidating the standardization and interoperability of payments systems, continuing the process of strengthening financial inclusion and reducing the use of cash.
All individuals or legal entities that are registered on the Single Bidders Register (“RUP” by its Spanish abbreviation) must renew their registration no later than the fifth business day of April, in accordance with Decree 1082 of 2015.
As from January 9, 2019, the new maximum monthly base for calculating health, retirement and occupational accident and professional illness social security contributions stands at 79.3 Unidades de Fomento (UF) (US $3,250). The new maximum monthly base for unemployment insurance for 2019 was set at 119 UF (US $4,900).