Delcy Rodríguez: New Tax on Bank Operations in Dollars

The Vice President and Minister of Finance, Delcy Rodríguez, reported this Wednesday, November 25, on a new transaction tax on foreign currency operations within local financial entities that will be higher than the Tax on Large Financial Transactions for operations in Bolívars in the local market.

This was announced through her account on the social network media Twitter, where the top ranked official detailed a set of actions to protect the Venezuelan people and to strengthen the use of the national currency against exchange speculators.

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“In order to invigorate the use of the Bolívar, the Sudeban (Banking System Agency) will considerably expand the amount limits on transactions with debit cards and electronic transfers, both for individuals and legal entities,” she said.

Likewise, Rodríguez indicated that the limits of these electronic transactions will be continuously updated so that those who have Bolívars can easily use them.

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“Finally, in order to increase the options to carry out foreign exchange operations from foreign currency to national currency, ‘commercial allies’ for currency exchange agents will be enabled, thus increasing the number of service providers,” she stressed.

Many currency exchange operations in Venezuela are held in the black market due to the restrictions preventing regular citizens from using the legal channels that are primarily used by large economic entities.


Featured image: File photo.

(La IguanaTV)

Translation: OT/JRE/SL

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