Asobancaria supports prohibiting payments of more than $10 million in cash

In an interview granted to EL TIEMPO, the Minister of Finance, José Antonio Ocampo, revealed that an article will be included in the tax reform project that prohibit the payment in cash of more than 10 million pesos.

(Colombia, the only one in the region with cash as the main means of payment).

“Here there is a lot of evasion that is done through buying cars in cash, with bills, millions of pesos, even real estate. It’s an evasion control.” pointed out Ocampo, who assured that this will be a very effective tool for the purpose of keeping evaders in line.

Faced with this proposal, Hernando José Gómez, president of Asobancaria, a union that brings together the country’s banking entities He stated that he supports the initiative.

(Despite progress in digitization, 60% of payments are in cash).

On his Twitter account, Gómez shared the interview with a message in which he said that “a good part of the great tax evasion is done with large cash transactions. We support the initiative.”

For the Government, the purpose of the tax reform is to gradually collect 25 billion pesos a year, and for that the modernization of the Dian is necessary, with technological instruments that allow better capturing evasion.

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