The limit on cash payments applies to transactions between entrepreneurs and between a customer and an entrepreneur. However, it will not apply to trade between consumers themselves. reminds that the amount of PLN 10,000 euro came from the European Commission, which considered it a compromise between the European Parliament, which wanted a limit of up to 7,000. euro and the Council of the European Union, which was against limiting cash payments.
Payment limit. You can’t buy a new car for cash anymore
– Thanks to this, fraudsters, organized crime and terrorists will not have the opportunity to legitimize their income through the financial system – Vincent Van Peteghem, Belgian Minister of Finance. There is also the other side of the coin. As DGP emphasizes, the adoption of changes regarding the limit on cash payments means in practice that, for example, a consumer will no longer buy a new car for cash or pay for a major renovation. The limit will be approximately PLN 43,000. zloty. The Polish government supported the introduction of a cash limit. “In the current unstable situation of increased threats in the sphere of security, the Government of the Republic of Poland considers it justified to strengthen and unify the EU legal framework in the area of combating money laundering and terrorist financing as a solution that provides a chance to eliminate existing gaps and tighten current regulations, and thus make it more difficult criminal activity in this area,” explained Finance Minister Andrzej Domański in March in response to an interpellation from MPs.
NBP and entrepreneurs against the limit on cash payments
Those who oppose the introduction of cash limits include: entrepreneurs and the National Bank of Poland. – We believe that adopting a limit on cash transactions is too far-reaching interference with civil liberties and citizens’ privacy. In our opinion, this will not help reduce the gray zone – says, among others, Jakub Bińkowski, director of the law and legislation department of the Association of Entrepreneurs and Employers. The right to choose the form of payment is also consistently defended by the National Bank of Poland, which emphasizes that “guaranteeing every person the ability to decide on the form of payment they want to use is, according to the National Bank of Poland, an action to counteract social exclusion.”
Source: Gazeta
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