Sebastián Béndiksen, our managing partner, talks to La República about the importance of carrying out an executive check-up at least once a year.
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Our managing partner, Sebastián Béndiksen, talks to Revista Portafolio about his outstanding management in obtaining authorization in the field of the food industry through a solid argument based on the application of regulations by analogy before INVIMA.
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Cumbre Latina Magazine has dedicated a prominent space to highlight the achievements and trajectory of BéndiksenLaw in its first 10 years of existence. This article offers an in-depth look at the evolution and milestones of our law firm, highlighting our continued commitment to excellence in client service and positive impact in the legal field. We are honored by this distinction and grateful for the continued support of our customers and collaborators on this exciting journey.
Read the article (in Spanish) here.
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Are you interested in learning more about cryptoasset legal compliance and how it applies to businesses in Colombia? If so, we have great news for you! We are organizing an exciting webinar (in Spanish) that will take place on June 6 at 10:30 am, where we will delve into the essential knowledge that every Colombian company must consider in the world of cryptoassets. If you want to keep your business up to date and make sure you comply with all regulations, this webinar is for you. Keep reading to learn more!
Details of the event:
Date: June 6, 2023
Time: 10:30 am (Colombia time)
In this webinar our managing partner, Sebastián Béndiksen, will give us valuable and practical information on how companies in Colombia can address the challenges and opportunities related to cryptoassets safely and in compliance with regulations.
Who should attend?
This webinar is designed for entrepreneurs, directors, managers, legal professionals and anyone interested in understanding the legal and regulatory aspects of cryptoassets in the Colombian context. It does not matter if you already have experience in the subject or if you are new to the world of cryptoactives, this event will give you valuable and updated information.
Inscription:
To join our webinar, simply go to https://eventograma.com/compliance-legal-de-criptoactivos/ and complete the registration form. Registration is free, but space is limited, so be sure to reserve your spot as soon as possible.
Do not miss this opportunity to acquire essential knowledge about legal compliance of cryptoassets and how to apply them to your company in Colombia. The webinar on June 6 at 10:30 am will be an invaluable opportunity to stay updated and ensure you comply with regulations in the world of cryptoassets. Register now and reserve your spot. We are waiting for you!
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Jaime G. Béndiksen, founder of BéndiksenLaw, affirms that multinational corporations have maintained, for many years, important investments in Colombia, contributing to the financing of the expenses and investments of the State, paying taxes and contributing to the economic growth and development of the country. He warns that with the Tax Reform Law 2277 of 2022 this will surely change.
For this graduate in Law from the Autonomous University of Mexico, with a master’s degree in Comparative Jurisprudence from the University of New York and a doctorate in Law, the tax burden currently borne by multinational companies, both affiliates or subsidiaries of national companies and foreign parent companies, and the additional charges that the 2022 tax reform imposes on them, will surely impact their operations.
He reminds readers that the income rate paid by national companies in Colombia is 35%. In his words, “it’s a horrendous percentage.”
He notes that the OECD last year analyzed tax rates in a sample of 117 countries. Colombia is one of the countries with the highest rates in said sample. Other countries’ average fee is 20%.
Ours is supremely high. The taxation of multinational companies was already disproportionate, a situation that is aggravated by the additional burdens imposed by the tax reform.
He explains that, taken together and simultaneously, all the taxes set forth by the tax reform can have a cascading effect that translates into a confiscatory effect, prohibited by our Constitution:
This will discourage investment and saving. In addition, it could have adverse repercussions on economic growth and job creation in the country.
Although some of the purposes of the tax reform, such as the protection of the environment, the promotion of health or the reduction of social inequality, are laudable, this does not justify that the reform neglects or completely ignores the constitutional principles of taxation.
The positive of the tax reform for national companies and foreign entities
A positive point of the tax reform, as Béndiksen points out, is article 240 on the reduction of rates for certain taxpayers and the reduction of rates for national companies and foreign legal entities.
There is a reduced rate of 15% for 10 years for certain new projects or remodeling or expansion of existing projects in hotels, ecotourism theme parks and / or agrotourism.
Similarly, a reduced rate of 15% for publishing companies, legal persons incorporated in Colombia, whose economic activity and corporate purpose is exclusively book publishing under the terms of Law 98 of 1993.
Rate increase as a negative point
For Béndiksen, it is very serious that the tax reform presents an increase in income tax rates for national companies and foreign legal entities:
A rate of 40% for financial institutions, insurance and reinsurance entities, stock brokerage firms, stock market infrastructure providers and others. For the periods 2023 to 2027, the taxable income will be the same or greater than 120,000 UVT, with advance payment of 100% in two equal installments.
On the other hand, there are rates of 40% or 45% for the extraction of hard coal (stone coal) and extraction of lignite coal. This is a “taxable income equal to or greater than 50,000 UVT in an aggregate manner with a related parties”.
Watch the webinar (in Spanish) here
If you want to know more, do not hesitate to contact us
Béndiksenlaw carries out a review of the use of cryptoassets in the context of companies in Colombia.
Read the news (in Spanish) here.
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Sebastián Béndiksen, managing partner of BéndiksenLaw Colombia, shares his perspectives with Actualícese about the incorporation of cryptoassets in companies and the role that managers must assume in relation to these resources.
Read the news (in Spanish) here.
Contact us for more information, we will be happy to address your concerns.
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Did you know that the Labor Reform does not require of the State the same obligations that it imposes on private companies, such as the termination of contracts for the provision of services or the payment of overtime and night and Sunday surcharges?
According to the lawyer specialized in corporate law, Sebastián Béndiksen, the Labor Reform imposes obligations on the private sector that the government itself is not willing to comply with.
Other aspects to consider are the legal effects that this reform will bring to the relationship between employers and workers, including the Right to Strike in the provision of essential public services, the types of contracts that may be signed according to the needs of companies and the stability of formal employment.
Sebastián Béndiksen, is a lawyer and Magister of Laws from Universidad de los Andes, Managing Partner of BéndiksenLaw.
Listen the podcast here (in Spanish):
Remember, at BendiksenLaw, we are here to counsel you and provide the best legal representation for any labor-related matters you may face. Feel free to contact us!
The Labor Reform in Colombia is shaping up to be a crucial issue that will have a significant impact on the relationship between companies and their employees in the country. In light of this perspective, BéndiksenLaw, a law firm specialized in counsel for national and multinational companies, has conducted an informative webinar where the most relevant aspects of this reform were analyzed, revealing six key elements that will affect labor relations in companies.
1. Higher labor costs: One of the direct consequences of labor reform, according to Sebastián Béndiksen, lawyer and master of law from Universidad de los Andes and managing partner at BéndiksenLaw, will be the increase in labor costs for companies. All labor surcharges and indemnities will be affected, as well as payments associated with apprenticeship contracts. Additionally, the extension of paternity leave will also impact the operational costs of companies. An important change is the modification in the night shift surcharge payment schedule, which will start from 6 p.m. instead of 9 p.m., implying an additional cost in companies’ operations. There will also be limitations on working hours and the total time a worker can work, which will require some companies to hire new personnel to cover vacant shifts.
2. Greater job stability: The labor reform aims to provide greater job stability for workers, which will imply changes in the way companies hire. The general rule will be indefinite-term employment contracts, granting greater stability to employees. However, this will also entail higher costs for employers. Furthermore, stricter restrictions will be imposed on dismissals, including the prohibition of arbitrary or discriminatory dismissals, in which case workers will have the right to request reinstatement.
3. Limitation on outsourcing: Another relevant aspect of labor reform is the limitation on outsourcing and the hiring of temporary services. Once the provision of temporary services, which will have a maximum duration of one year, is completed, it will not be possible to extend the contract or hire with a different temporary services company. Additionally, in case of disputes, there is a possibility that the company hiring the services will be considered the true employer of the temporary workers, despite the outsourcing. This means that companies outsourcing services will have to assume greater responsibility and be prepared to face possible legal disputes questioning their role as employers.
4. Review of internal policies: Implementing the Labor Reform will require all companies to review their current contracts and internal regulations. It will be necessary to adjust dismissal processes and include aspects related to inclusion and labor rights in companies’ internal policies. For example, special attention must be given to the non-discrimination of non-binary individuals and the protection of those who change their gender identity. Additionally, almost any form of inappropriate behavior will be considered workplace violence, and companies will be required to offer flexible schedules in certain cases. These aspects, which are currently not present in most company regulations, must be incorporated to comply with updated labor regulations.
5. Job formalization: The Labor Reform includes a chapter dedicated to the formalization of jobs in various areas, such as digital platforms, agricultural work, employment for migrants, professional athletes, and domestic workers. This measure aims to promote the formalization of different economic sectors and encourage compliance with labor and social security obligations.
6. Strengthening of labor unions: The Labor Reform also aims to strengthen workers’ associations and labor unions, granting them greater facilities for their creation and operation. It is expected to be easier to establish unions and carry out strikes, with fewer opportunities for companies to declare strikes as illegal. Additionally, the consequences for those participating in illegal strikes will be reduced, and their dismissal is prohibited.
Despite the progress represented by the Labor Reform in terms of formalization and worker protection, BéndiksenLaw’s lawyers express concern that the public sector is not included in these modifications. They consider it essential to address abuses in the hiring of services in the public sector. Furthermore, the need to provide support and subsidies to companies during the transition process towards labor formalization, especially for small and medium-sized enterprises that will face a significant burden, is emphasized.
The Labor Reform in Colombia presents significant challenges and opportunities for companies. It is essential for companies to be informed and actively participate in the process of debating the legislation. There are still four pending debates in Congress, so it is crucial to stay attentive, communicate with representatives, and exert social pressure to ensure that the interests and needs of companies are taken into account in this reform. BéndiksenLaw positions itself as a source of specialized advice for companies seeking to adapt to the new legal and labor requirements.
Remember that at BéndiksenLaw, you will find the support and counsel you need to successfully navigate labor changes in Colombia. Do not hesitate to contact us for more information and to protect the interests of your company with this new labor regulation!
Watch the webinar (in Spanish)
To download the presentation (in Spanish) click here
Sebastián Béndiksen, managing partner at the firm BéndiksenLaw Colombia, speaks with the newspaper El Colombiano about the recent labor reform and its influence on occupational dynamics within companies.
Read the news (in Spanish) here.
Contact us for more information, we will be happy to address your concerns.
