The public authority of Colombia uncovered it has plans to send off a computerized money. One of the reasons for this new cash is check tax avoidance and upgrade the discernibility of exchanges made by residents. The proposed measure would likewise be joined by limitations on cash installments and exchanges of more than 10 million Colombian pesos ($2,400).
Colombia to Launch Its Own Digital Currency
Numerous nations are currently hoping to digitize a piece of their economies to more readily comprehend and control the progression of cash in their economies. The public authority of Colombia is wanting to send off its own computerized cash sooner rather than later, as indicated by articulations presented by Luis Carlos Reyes, top of the DIAN, the Colombian duty authority.
Reyes told nearby media source Semana this would be one of the recommendations of the recently initiated president Gustavo Petro to check tax avoidance, assessed to be somewhere in the range of 6% and 8% of the GDP of Colombia. On this note, Reyes expressed that the reason for this computerized money is improve the recognizability of these exchanges so shippers can't dodge charges involving cash as an installment technique.
On the viability of the action, Reyes assessed:
This is comparable to six or eight duty changes that have been made in the country, with which a limit of 1% or 1.5% of GDP is gotten.
Nonetheless, Reyes uncovered no qualities of the computerized money or the manner by which it would work close by the customary installment frameworks in the country.
Cash Restrictions
The presentation of the advanced money would likewise be joined by different measures that are right now being considered. One of these actions is a limitation on installments in real money over a specific sum. Reyes affirmed this sum would be 10 million Colombian pesos, or around $2,400.
Nonetheless, these progressions could disturb the installment channels of Colombians. While the utilization of money for installments was diminished during the Covid-19 pandemic, cash is as of now one of the principal techniques for installment in Colombia. Measurements from the Central Bank of Colombia show that the dissemination of bills has ascended to its biggest number in 17 months.
As indicated by information from the Financial Superintendency, Colombians actually favor cash as their primary installment technique while paying for transportation (94%), food (80%), cell top-ups (78%), and lease (77%).
