The Law on Cash Payments has been published in the Monitorul Oficial and will come into force in 2025.
The law provides for clarification of the rules for the circulation of cash in economic activity and a focus on non-cash payments. The main feature of this law is that limits are set for cash payments. Depending on the category to which it belongs, the characteristics and frequency of payments, the cash payment limit on average will be 100 thousand lei in total monthly or annually. At the same time, legal entities will be able to make cash payments in favor of an individual who is not engaged in entrepreneurial activities in the amount of up to 200 thousand lei per year, if they are related to the sale of crop and livestock products in kind, live and slaughter weight; and if an individual is engaged in entrepreneurial activity, then the maximum amount will be up to 600 thousand lei per year. For individuals, the cash payment limit is determined depending on the category of purchase. Thus, when purchasing real estate, cash payment will be accepted only in an amount not exceeding 100 predicted average monthly salaries in the economy (about 1.37 million lei), and in the case of purchasing vehicles - 50 (about 685 thousand lei). If the price specified in the contract exceeds these limits, then payment is made by bank transfer, except for 200 thousand lei, which can be paid in cash. Herewith, the limits for the purchase of cars and real estate in cash will be lowered gradually, until 2028. Fines will be applied for non-compliance with the provisions of this law - the State Tax Service will be able to impose fines in the amount of 3 to 10% of the amount paid in cash in excess of the established limit. // 01.03.2024 — InfoMarket
