The Italian government is working on a new monetary limit to combat tax evasion. In addition, the executive authority has set the day on which fines will be imposed on merchants who do not allow electronic payments. Let’s see together what is the news on this.
with a goal Fighting tax evasionThe Italian government is working on New cash limit. In fact, professionals can tax evasion Payment request in Cash Not issuing the invoice without paying the dues taxes apply to any Transaction.
Let’s see together what the CEO decided on Cash And what are the penalties for merchants who will not allow? electronic payments.
New cash limit
The government decided to New limit on cash payments pass, pass, pass successfully From 2000 Euro to 1000 EuroHowever new frontier settles in 2023Therefore, the upper limit remains in effect until the end of this year. Once the threshold is exceeded, the Penaltiesthat can reach Up to 50,000 euros.
There is no Italian law that places a limit on the amount of cash you can take with you at home and away from home, i taboo It is only about the exchange of funds between subjects.
Electronic Payments Controls and Penalties
In the meantime, to encourage the use of electronic paymentsCEO made it Use Pos from the next day June 30one penalty €30 fine who goes to 4% of the transaction value added.
In addition, the Daily data transfer On transactions paid in electronic currency, in this way all electronic payments will be immediately reported to the tax authority, which will be able to make checks by crossing the collected information with its database. Among the hypotheses that are examined by the executive, there is also the possibility of direct recovery of deductions for some expenses paid digitally.