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regulations on electronic payments

[vc_row][vc_column][vc_column_text]The activities related to electronic commerce are subject to various provisions contained in Spanish law. Likewise, a fundamental aspect when dealing with any initiative in the field of electronic transactions lies in the fact that the applicable rules vary according to the potential recipient of the offer. 

Scope of Electronic payments in Spain

There is greater scope for party autonomy if the economic transaction takes place between companies (“business to business”) and, on the other hand, if the commercial relationship is established between a company and an individual consumer as the final addressee (“business to consumer”), this autonomy is less, since consumer protection legislation, among others, is applicable.

Taxation of Electronic payments in Spain

When it comes to taxation, e-commerce raises questions that can hardly be addressed from a unilateral Spanish perspective. Maybe for this reason, the tax authorities haven’t considered it appropriate to adopt unilateral measures, preferring to wait for a consensus on the measures to be adopted on a regional and even global scale.

Rules on Electronic selling and Electronic payments 

There are rules on distance selling, electronic payments and other relevant rules in this field:

For e-commerce activities aimed at consumers it will be necessary to comply with the regulations on consumer protection. It states that distance sales as those concluded without the simultaneous physical presence of the buyer and the seller, transmitting the seller’s contracting proposal and the buyer’s acceptance exclusively by means of distance communication of any nature and within a system of distance contracting organized by the seller 

This Law determines the minimum content required for distance contracting proposals (both with consumers and between entrepreneurs), which must include, among others:

  • The identity of the seller.
  • The special characteristics of the product
  • The method of payment and modalities of delivery or execution.
  • The period of validity of the offer and, if applicable, the minimum duration of the contract.
  • Indication of the cases in which the Seller will have to assume the costs of returning the goods.

This regulation regulates, among other matters affecting consumers, the regime of abusive conditions and clauses in consumer contracts, and the right of withdrawal corresponding to consumers in distance sales (fourteen calendar days).

There are also regulations in place for the marketing presented to potential customers and the rules they should engage within the e-commerce.

How can Lexidy Help?

At Lexidy we can help you and your business activity from forming a company, opening bank accounts, do due diligence reports on electronic selling and electronic payments, among other services related to your business activity. Contact us and get a free consultation!

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