The limit for cash transactions is to be reduced again


Measures for the further increase in electronic transactions and its drastic treatment tax evasion and the underground economy is promoted by the Ministry of Finance.

The aim of the measures is to further limit the use of cash in transactions and for businesses to “spend” an even greater part of their daily turnover through POS machines or other means of electronic payment

In particular, the reduction of the limit up to which the use of cash is allowed to carry out a financial transaction concerning the purchase of products or services.

This limit is expected to decrease from 500 to 200 euros per transaction. Thus, amounts above the new limit of 200 euros related to the sale of goods or the provision of services to private individuals, should be paid by their recipients, buyers of the goods or services, exclusively by electronic means. That is, the use of means of payment by card or other electronic means of payment, bank transfer, payment through a payment account, use of e-wallet.

Read more at www.newmoney.gr

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