The National Integrated Tax and Customs Administration Service (Seniat) explained that transactions carried out through payment gateways such as Zelle, PayPal, Reserve and other similar ones will be taxed by the Tax on Large Financial Transactions (IGTF in Spanish) because they are carried out without the intervention of the Venezuelan financial system.

The General Manager of Legal Services of the Seniat, Carlos Ernesto Padrón Rocca, spoke about the direct consultation of Edwuard Rafael Sucre Guzmán, inspection manager of the tax authority, related to the most common doubts that arise around the reform of the Income Tax. the Large Financial Transactions (IGTF). The new tax imposes a 3 % tax on payments with foreign currency and cryptoactives other than the petro.

The document was cited by different accounts through the instant messaging social network Twitter and although the measure directly impacts the consumer, who must pay more to use foreign currency, the businesses are the ones that have to adapt to this new tax mechanism.

Businesses are “going through a torment” to be able to collect the tax, because they must adapt their systems and that has some technical implications. In addition, the lack of information and the “gaps in the regulation” did not allow businesses to fix their systems before the tax came into effect.

All this situation has caused that 75 % of the companies in the commercial sector do not have the capacity to collect the tax in dollars. According to data provided by the National Council for Commerce and Services (Consecomercio).

Limitations for the collection of the IGTF

Tiziana Polesel, president of Consecomercio, highlighted that the main limitation that merchants are experiencing in collecting the tax is the impossibility of replacing or updating the fiscal machines, in order to be able to reflect the amount of the IGTF on the invoice.

According to Polesel, solving this situation requires a significant investment that many businesses, especially small ones, are not able to do in “a short time”. “They do not even have the possibility of resorting to loans,” she stressed.

The president of Consecomercio highlighted: “We are convinced that we must correct it. We have to understand how the sector works and what the weaknesses are in order to incorporate this contribution. We are not denying compliance, we are just asking for more time to make it work.“

The representative of the commercial sector highlighted that there is the possibility of an “increasing degree of informality, since businesses that cannot comply with the regulations will not stop operating but will migrate to that unregulated market that even affects the State, since VAT would not be paid either”.

M. Rodríguez

Source: primicia.com.ve

La entrada Transactions with Zelle, PayPal and Reserve must pay the IGTF tax apareció primero en Bitfinance.

In order to offer greater facilities to its clients, Bancamiga Banco Universal will incorporate in the coming days the possibility of canceling the services of CANTV and Corpoelec through the Bancamiga Points of Sale, informs a statement from the institution.

In this way, the two new services are added to the existing options of recharging at Digitel, Movistar, Movilnet, Inter and Simple TV POS, playing El Andinito of the Táchira Lottery and sealing the 5 and 6.

The Bancamiga Points of Sale have become an important tool to promote the growth of the commercial sector, as they are a way to transact and promote the activities inherent to the nature of the business and by allowing citizens to recharge and cancel services such as mentioned.

The executive president of Bancamiga, Ariel Martínez, said that for the bank it is fundamental to satisfy the needs of the market, offering friendly and versatile products and services.

Among the top five private banks

“Bancamiga has managed to position itself among the top five private banks in the Venezuelan financial system, based on technological innovation, self-management and the best customer service. Responding to their demands is key for the institution, which has just completed its first 15 years. We work to become a different bank, one that stimulates the pace of commercial activity and constantly seeks options to grow together with its customers”.

The new Cantv and Corpoelec cancellation facilities will also be available in Bancamiga online, both in Internet Banking and in the Bancamiga Suite application, where customers now have the possibility of recharging the Card in Foreign Currency and the services of Movistar, Digitel, Inter , Simple TV, Pure Payment and Direct Payment, explains the document.

For merchants with Bancamiga POS, the advantages are multiplied when soon they will also be able to receive their settlements every day, including Mondays and holidays, which they can immediately turn into the Bancamiga Exchange Desk, said the spokesperson, manager and senior official.

All these new benefits highlight the importance for Bancamiga of facilitating processes and increasing business profitability.

If you need more information, you can contact them through their networks on Telegram, Twitter, Facebook, Instagram, WhatsApp and YouTube or call them at the service center: 0500 TUBANCA (8822622).

With information from Bancamiga

La entrada Cancel your CANTV and Corpoelec bills from the Bancamiga Points of Sale apareció primero en Bitfinance.