The new year, arriving in sixteen days, will bring important news regarding the current accounts and postal books. This is a real reversal, with a series of stakes to be respected as regards payments and withdrawals. The main purpose is to definitively stop tax evasion and illegal operations. But let’s see in detail what Italian taxpayers will encounter from January 1, 2022.
Less and less cash
First of all, as already widely anticipated, from next year it will no longer be possible to pay in cash for amounts exceeding one thousand euros. Up to today it can be used in currency up to € 1,999.99, from January 1st this ceiling drops to € 999.99. For higher sums there will be an obligation to pay with electronic cards or with other traceable instruments such as checks or wire transfers. Even if you intend to donate money to a child or family member, you will need to proceed with a wire transfer or check.
Withdrawals and deposits
This strict rule, however, does not apply to withdrawals and deposits from current accounts and from postal books. Here the threshold of 999.99 euros must not be respected, indeed there are no particular limits. However, this does not mean that you can deposit or withdraw at will, without respecting any rules. If more than a thousand euros are withdrawn from the ATM, the bank is in a position to ask customers for explanations for such an operation. The user must always be in a position to be able to justify the banking movement, demonstrating that the money comes from legitimate flows. If this condition is not met, theRevenue Agency can initiate sanctioning proceedings, deeming the customer a tax evader.
The sanctions
To change, in any case, are also the sanctions for those who break the rules. Not only those who exceed the limit for cash payments will be fined, but also those who accept the money. By lowering the cash figure, the fine was also reduced. With the payment threshold of 1999.99 euros, the minimum penalty for the transgressor was 2 thousand euros. With the limit of 999.99 euros, the minimum penalty will be halved to one thousand euros.
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