US EditionMinistry of Finance Proposes to Apply Withholding of 1.5% on Payments with Bre-B and Digital Wallets
10 Articles
10 Articles
Bre-B sounds like something short, but it is a robust system of immediate payments from the Banco de la República de Colombia, which allows 24/7 transfers between banks and digital wallets with “keys”, unique codes that can be the cell phone number, the card or an email. Its mission is to reduce the use of cash and promote financial inclusion. But its useful life could be as short as its name. A draft decree from the Ministry of Finance applies …
Ministry of Finance Proposes to Apply Withholding of 1.5% on Payments with Bre-B and Digital Wallets
The initiative would equalize tax treatment between card payments and affect small businesses and users who take advantage of the free
The Colombian Chamber of Electronic Commerce (CCCE) expressed its concern about the draft decree of the Ministry of Finance that proposes to apply a withholding of 1.5% on digital transactions, including those carried out through Bre-B, Nequi, Daviplata or other electronic wallets. The executive president of the guild, María Fernanda Quiñones, said, in dialogue with EL COLOMBIANO, that this measure “punishes digital payments”, increases operatio…
A draft decree with which the Government intends to extend the retention of the source of 1.5%, which already exists for payments that are made with debit/credit card, to those made by electronic means such as Nequi, Daviplata or Bre-B, which has generated concern in the financial system. SEE MORE: Bre-B debuts strongly: 17 million transactions in its first weekAccording to the Ministry of Finance, the proposal “does not create a new tax, but ad…
Asobancaria news: The Ministry of Finance's proposal could bury Bre-B Home Technology Address copied Amid the Security, Cyberthreats, Fraud, and Experience (SAFE) 2025 Congress, Jonathan Malagón, president of Asobancaria, warned that the measure proposed by the Ministry of Finance to tax Bre-B would make digital transactions more expensive compared to cash, increasing informality.
As read in the text of the initiative, it would be a withholding in the source of transactions that are made by sales of goods or services.
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