The Government has approved a draft law on cash settlements.
The draft law regulates the procedure for cash operations, establishes the conditions for the issue of money from a business entity's cash register and the procedure for applying sanctions for non-compliance with limits on cash settlements and payments. In particular, the limits of cash transactions in cash are established for all categories of legal entities, regardless of ownership and legal form (except for government agencies and public institutions), permanent representative offices and branches of non-resident organizations, non-profit organizations, individuals engaged in entrepreneurial activities, as well as professional activities in the field of justice and health care. Thus, when performing cash operations, these taxpayers will have the right to make cash payments up to 100 thousand lei per month, in relation to other legal entities and individuals engaged in entrepreneurial and/or professional activity in the field of justice/health care. The limitation of the amount does not apply to cash replenishment of accounts opened with payment service providers. Also, they will be able to make cash payments in favor of individuals who do not engage in entrepreneurial activity, in the amount of up to 100 thousand lei per month. Cash payments in favor of individuals not engaged in entrepreneurial activity in the amount of up to 100 thousand lei per year are allowed - from the handover of waste and residues of ferrous and non-ferrous metals, industrial waste containing metals or their alloys; from the handover of returnable containers, residues and waste of paper, cardboard, rubber, plastic and glass (glass waste), as well as used batteries; from the sale of crop and horticultural products in kind and livestock products in kind, live and slaughtered weight. Also there are allowed are dividend payments in cash to all founders/shareholders in the amount of up to 100 thousand lei annually; cash payments under loan agreements to all borrowers in the amount of up to 100 thousand lei annually; cash payments for services rendered per supplier or his representative in the amount of up to 100 thousand lei annually. At the same time, the above-mentioned subjects will be able to use unlimitedly the money for payment of labor and other payments arising from labor relations; for the fulfillment of obligations to banks; for settlements with state structures; for pledge, surety, other payments in criminal cases made by state structures; for the payment of tax obligations, payments, fines to the national public budget. The funds withdrawn from the cash desk for these purposes must be paid within 5 working days, and in case of failure to use them for their intended purpose, the State Tax Service (STS) may charge a fine from 500 to 5 thousand lei. At the same time, for exceeding the established limit of cash payments, the STS will charge fines from 3% to 10% of the amount paid. For failure to return cash to the cash desk, the fine will be from 10% to 18% of the missing amount. In case of non-return, untimely return of cash to the cash desk of the economic entity that issued it, the person who issued the cash may be fined from 0.1% for each day of delay, but not more than 5% of the unrecovered or untimely recovered amount on a case-by-case basis. The bill must be approved by the Parliament. // 15.11.2023 - InfoMarket.
