Introduces Modifications In Decree Law No. 3.475, 1980, Containing The Law On Stamp Tax And Stamps

Original Language Title: INTRODUCE MODIFICACIONES EN EL DECRETO LEY Nº 3.475, DE 1980, QUE CONTIENE LA LEY SOBRE IMPUESTO DE TIMBRES Y ESTAMPILLAS

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"Sole article.-Introducense the following |! |" amendments in Decree Law No. 3.475 of 1980, which |! | (contiene la Ley sobre Impuesto de Timbres y Estampillas: 1) replacements, in the first paragraph of the numeral |! | (3) in its article 1, from March 25, 2008, |! | the figures "0,134" and "1,608", "1.2", and "0.1" |! | respectively. From the same date, replace |! | "in the second paragraph of the same article, the figure |! |" 0.67 "by"0.5".

2) replacements, in the No. 2) of article 2, |! | as of March 25, 2008, the figure "0.67" |! | by the figure "0.5"; "in the second subparagraph the figure |! |" "0,134" by "0.1", and in the third subparagraph the figure |! | " 1,608 "by"1.2".

(3) replacements, in the second paragraph of the article |! | "3rd of March 25, 2008, the figures |! |" 0,134 "and"1,608","0.1"and"1.2", respectively.

(4) replace the number 17 Article 24, by |! | the following: "17.-documents that are issued or subscribe with |! |" reason of a money credit operation, to |! | except for the lines of credit, granted by |! | constituted financial institutions or operate in |! | the country in the amount which is intended exclusively to |! | pay loans granted by this kind of |! | institutions, as these loans do not correspond |! | the use of a credit line. Also, to do |! | effective this exemption, is required at the time of the |! | the credit that is paid, the tax of |! | You stamps, coins and stamps due on documents |! | issued or signed on the occasion of the original credit, |! | It was actually paid. Also this |! | exemption shall apply when the documents evidencing |! | the loan that is paid have played host to thing |! | provisions on this issue. So operate this exemption, |! | both the credit that is paid and for saying |! | payment must have been issued by any |! | financial institution subject to the control of the |! | Superintendency of banks and financial institutions, |! | Social security or SVS SVS |! | of securities and insurance.
In the case that the documents that are issued, |! | Subscribe to or granted on the occasion of the new credit, of not |! | mediate this disclaimer, levied a rate |! | greater than that affected documents is |! | they issued, subscribed or granted on the occasion of the |! | original credit, this exemption shall apply only |! | up to the concurrence of the rate of the tax which |! | It would have taxed the original credit documents. The |! | difference between one and another rate will affect to the |! | documents that are issued, Subscribe to, or grant with |! | occasion of the new credit according to the General rules.
This exemption shall apply only with respect to that |! | part of the new loan, to pay the amount |! | outstanding loan original, including interests |! | and commissions which are charged at the time of payment |! | advance of the same. If anyone will understand in |! | This exemption, that part of the intended new credit |! | to pay interest originated in the credit arrears |! | original. Exemption shall also include costs than |! | be charged for the new credit. Without |! | However, if the new credit considered larger and larger sums |! | intended for purposes other than the payment of the claim |! | above, shall be deemed included in this part of |! | the exemption only the fraction of the costs associated to the |! | the new credit equivalent to the |! | ratio that represents the net amount of credit |! | original in relation to the new credit.
When the credit that is paid has been awarded |! | to more than one person, the exemption will facilitate all the |! | debtors.
To prove compliance with the conditions |! | making this exemption, from you must insert |! | in the respective deed, a certificate of the |! | financial institution that granted the original credit or |! | of the legitimate assignee of the receivable in its case, |! | Noting the amount that the payment amounts. Also, he said |! | certificate must be indicated in the specific form, the amount |! | interest and commissions charged. In addition, |! | This certificate must contain the date of |! | the credit that is paid; the number, series or |! | folio of the document which gives counts or registers credit |! | original. Only in the cases that the entity that granted the |! | credit that is paid has not previously informed the |! | granting of credit to the tax service |! | Internally, the referral certificate must indicate, |! | In addition, the tax rate of this law which affected to the |! | credit that is paid, the amount of the tax paid |! | Indeed, the folio of the form in which consists the |! | payment of tax stamps and stamp paid, or the |! | standard for partial or total exemption applied, when |! | appropriate. If the credit not constare in writing, |! | to make the exemption, the referral from |! | certificate must be attached to the body of the note or the |! | document that is issued or signed on the occasion of the |! | credit. Similarly, in the case that credit |! | intended for payment is awarded by an institution |! | financial other than that granted the credit |! | original, the debtor should give mandate to the |! | financial institution lender so this pay |! | the original credit, directly to the institution |! | creditor or its legitimate assignee, and the |! | case that the lender institution is the same as |! | awarded the original credit, the debtor must authorize |! | the direct attribution of credit given to payment |! | the original credit. "."