Mambu Banking Engine

What?

The ability to set a parameter to round the tax amount calculated or support currency rounding for exclusive tax products

Why?

Right now, organizations are unable to use exclusive taxes with Repayment Currency Rounding (Half Up or Round Up).

In countries in Latam, it is a common practice to use currency rounding due to payment methods, inflation, or even some countries just do not transact in decimals. It is also a common requirement to use exclusive taxes. Some organizations are legally required to pay and report taxes on interest, fees and penalties using this type of method. Some examples where exclusive taxes are a regulatory requirement are Mexico and Argentina.