Payments with international credit or debit cards will be exempt from the ‘IGTF’

According to decree No. 4,647 published in Official Gazette No. 6,689, payments with international cards in Venezuela will be exempt from the new tax on foreign currency transactions.

In this way, people who use their debit or credit cards from accounts in any country in the world will not have to pay the 3 % tax per transaction, as reflected in the reform of the Tax Law on Large Financial Transactions (IGTF).

It should be noted that the tax exemption will only apply to those who make payments in bolivars and through duly authorized payment points. That is, some points of sale that are used informally in some businesses and that make the direct payment in dollars are excluded. .

Likewise, it was learned that transactions made with debit cards charged to accounts in dollars or euros of the national bank will be exempt from the new tax, according to article 5 of the decree.

The Digital Finance medium offers the complete content of the new decree No. 4,647 published in Official Gazette No. 6,689.

Source: elsumario