49 financial services pay a 14% VAT

Users of the financial system started from this month to pay a 14% VAT for banks, mutuals and cooperatives services, as provided by the Solidarity Act, proposed to help the victims of the earthquake of April 16.

From June 1 the values paid by users for ATM withdrawals, transfers, check issuances, renewal of credit or debit cards, etc. were modified.

In the case of banks, the increase in costs, caused by the two-point VAT increase, ranges from a penny for withdrawing money at ATMs, to up to $ 2 on transfers abroad when the amounts exceed USD 10 000.

Source: http://www.elcomercio.com/actualidad/serviciosfinancieros-iva-tarjetas-banca-usuarios.html