Tuesday, January 10, 2017

Redunicre ensures to comply with the law on Stamp Tax on cards – Jornal de Negócios – Portugal

Was assured this Tuesday, February 10, merely to comply with the law in the collection of the Stamp Tax on Cards. The position arises after the Public newspaper have reported that the traders are “surprised” with this situation.

The institution owner of the Redunicre, the largest network of acceptance of payment cards in Portugal with around 80 thousand terminals, remember that it approved the changes to the law in March of 2016.

“according To this change (…) the economic impact of tax arising from transactions based on the card is the responsibility of the customers of financial institutions,” he said.

So, it is up to traders for the payment of the tax in question. The Stamp duty is 4% on the fees charged by banks in payments with cards. Thus, a payment of 25 euros is charged a service fee of 1%, which gives 25 cents. It is about her that relates to the Tax Stamp, one cent. The trader paid just 26 cents in total.

The new tribute, which began to be charged by traders at the beginning of December by Redunicre, surprised the hospitality and catering industry. The AHRESP, the association that represents the sector, says they have received complaints in this regard and is preparing an alternative: an own system of mobile payments called Seqr, in partnership with a Swedish company.

To the Public, the Ministry of Finance reminded that the Stamp Tax was already “because of earlier, and the Budget of the State of 2016 only clarified its enforceability”. In practice, the institutions paid but not charged to merchants.

The Business already anticipated, in February last year
, that although the rate levied on the banking, that is who delivery their revenue to the State, the risk existed that the rate be to bounce on the retailers or even customers.

last year, the purchases through the Redunicre exceeded 16.600 million.


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