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2018: “Cash will no longer be accepted”

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The head of the Federal Public Revenue Administration (AFIP), Alberto Abad, announced that starting next year “all tax payments will have to be made electronically” as part of the process of banking the economy and combating tax evasion.

Starting in 2018, “all collection agencies must have a POS system that allows users to pay the tax with a debit or credit card. Cash will no longer be accepted.”Said Abbot and announced that AFIP hopes to implement an immediate banking transaction within two months that will allow payment of property deeds, and not depend on cash.

PIn order to encourage the use of this banking transaction, the withholding tax collected on profits from electronic transactions will also be reduced, while the rate will be higher for those who do so in cash.

Referring to the AFIP plan to extend the use of electronic payment, Abad explained that until last March, the number of new devices had grown to an average of 10.000 units in March, a number that climbed to 15.000 in May and to around 20.000 POS machines in June.

Source: Telam

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