Legal Framework of the Special Contribution over Banking Operations
Banco Económico, S.A. hereby
notifies that, since May 23rd, 2016 that the Legal Framework of the
Special Contribution over Banking Operations, approved by the Presidential
Legislative Decree no. 1/16, of 24th February, entered into force.
According to the decree under consideration, the banking/financial debit transactions
carried out through checking accounts, are now subject to taxation, at the rate
Among other operations,
payment of salaries, allowances and other
remuneration components (by indicating of the specific purpose), transfers made
between accounts of the same holder (with valid proof of account ownership), the
ransom of savings accounts and transfers made under foreign technical
assistance or management contracts, concluded in accordance with the Presidential
Decree No. 273/11 of 27th October, are exempt in this regard.
nothing further at moment, Banco Económico presents its compliments remaining,
of course, available to answer any questions that arise in this matter.