VAT refunds are looking to move e-money

Tax incentives in legislation Tax Equity and Solidarity generated in the last three months a massive opening of accounts of electronic money, although its use remains limited and transaction amounts are still marginal.

Until last May, the Central Bank (ECB) recorded 76,000 Cash accounts from my cell phone, the name the government has given to this mean of electronic payment. As of August 28 there were 169,325 accounts, more than the double.

Incentives go through returns on value-added taxes (1% if something is bought with credit or debit card and 4% with electronic money) for users and compensation (up to 10%) or reductions in the tax base to income for local owners to enable purchases with e-money. The only way to get them is by creating an account.