On March 31, 2026, the Internal Revenue Service issued Circular No. NAC-DGECCGC26-00000003, which contains a pronouncement regarding the treatment of Value Added Tax (VAT) applicable to services provided by financial entities, including charges, commissions, and others. Principally, the Tax Administration states that: Services habitually provided by entities of the financial system, as well as commissions inherent to active operations and other authorized services, are subject to VAT at the current rate (15%). This includes, among others:

• Collections and charges to establishments for consumption made with cards under any modality, whether current or deferred, with or without interest.
• Commissions paid by merchants to financial entities for customer consumption made with cards under any modality, whether current, deferred, with or without interest.
• Charges for national and international interbank transfers.
• Charges for interbank payments made through mobile platforms and online money transfers.
• Charges for commissions and other financial services performed for members, clients, or users.

It is established that the VAT tax obligation is triggered at the time the service is provided or payment is made; financial entities must liquidate the tax on all taxable operations, regardless of the status of the service beneficiary (whether client, user, member, or other).

Entities of the private financial system, and the popular and solidary sector, act as VAT collection agents, being responsible for the correct liquidation, declaration, and payment of VAT derived from the financial services they provide.

This document is a summary of the relevant tax aspects contained in Circular No. NAC-DGECCGC26-00000003 and does not necessarily reflect the opinion of Robalino®; therefore, it cannot be considered as legal advice provided.

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