The fight against tax evasion and money laundering passes through the limitation of cash. From 1 January the permitted threshold has been lowered again.
It is now a declared strategy that of the Government, which aims to revolutionize payment systems by limiting the use of cash to a flicker. From 2022 the rules will be even more stringent than they already are. The fight against tax evasion will inexorably shift from the use of traceable methods (cards and bank transfers), even in contexts closest to everyday life. And the novelty will concern not only who pays but also who receives payments. In fact, traders will have to equip themselves with Pos devices, perhaps taking advantage of the incentives made available for those of the latest generation.
A shared effort therefore, provided that the use of cash is less and less frequent. Clearly, the new limitations will not immediately reset the amounts available for the cash balance. As of January 1, payments according to this methodology will only be allowed up to € 999.99. If you need to shell out more, it will be up to traceable instruments: cards of any type, ATM, bank or postal transfer. All in the name of traceability of large expenses.
Cash payments, limitations from 1 January: which penalties for offenders
So be careful. 2022 will be a sort of year zero, considering that it will be the first post-pandemic maneuver of the Draghi era. The premier himself had indicated tax evasion as one of the worst evils of our country, thus disposing of the use of increasingly refined strategies for the fight, of this as well as the risk of possible money laundering problems. Also for this reason, cash will be limited and there is even talk of the removal of 500 euro banknotes, the most subject to this phenomenon. For the moment, however, we will start with payment limitations, continuing on a strategy that has been underway for some time. From 1 July 2020, in fact, it had already gone from the old 3 thousand euros acceptable for a single to 2 thousand, a threshold in force until 31 December 2021.
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So, in summary, from 1 January thresholds lowered to a maximum of 1,000 euros. Indeed, as mentioned, to be precise 999.99 euros. And be careful, as the Tax Authority monitors everything, especially large payments. Yes, even in cash. When too high withdrawals of money occur, the fiscal lens will trigger the investigations. As well as in the case of operations such as payments exceeding the amount of money in stock on account. Even in the tax return phase, everything will have to go smoothly: in the event of discrepancies between what is declared in 730 and the taxpayer’s lifestyle, the tax authorities will be able to proceed with investigations. Basically, be careful not only about how much you buy in cash but also about what.
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