2022 begins with new rules on cash, withdrawals and deposits. It thrones the “old” ceiling for cash
2022 will be a varied year changes with everything related to money. They range from the reform of personal income tax deductions to the revaluation of pensions which will lead to increases in payrolls and pension checks. Then, the universal single allowance will make its debut, which will replace family allowances, favoring large families compared to the previous legislation. Still on the subject of money, another novelty will concern the circulation of cash.
Cash tight since January
The premier had already anticipated that the reduction of taxes would go forward gradually and in step with the fight against tax evasion. Along these lines for cash we return to a rule of the past, that of 1000 euros. Basically, for payments that exceed the 999,99 euro it will be mandatory to pay with tools electronic or checks, or wire transfers. The goal is to provide traceability on cash, thus curbing the circulation of money eluded by the tax authorities.
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This will also involve changes for withdrawals and deposits to the ATM. In fact, if you withdraw more than a thousand euros in your account, it is lawful to do so, but the bank is in a position to ask for the reason for the transaction and the user must always be able to justify the movement. The consequence, in fact, could be that of a report from the bank to the Revenue Agency which could, in turn, sanction the user in case of no justification for the movement of cash.
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The same goes for current accounts postal books. There is no limit but the bank can exceed the figure of 999.99 ask for explanations and activate the controls of the Agency. The cash limit then goes from 1999.99 to 999.99. However, along with the circulation of cash, the penalty is also lowered. In fact, in the event of failure to justify an operation, the envisaged penalty drops from 2000 to 1000 euros.
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