Third Senate Committee Passes Bill to Stimulates Electronic Transactions
14 junio 2019


On june 11, the Third Committee of the Senate approved the bill reducing cash transactions and promoting electronic operations. Although the bill was approved unanimously, the attending senators made amendments to the original text which will now be debated on the Senate floor, as it has to be approved before June 20, when the regular legislative term comes to an end.

The Senate Committee struck certain articles including those setting ceilings on electronic transactions, as well as eliminating taxes on financial movements. They also proposed that the Government allocate incentives for people promoting the use of electronic transactions, and designated the Ministry of Finance as the regulatory body for this legislation.

The text subheading was also modified as follows: “through which greater control can be promoted and exercised over education and financial inclusion, the interoperability of the financial ecosystem, the fight for transparency, against corruption, and other provisions”.

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