Moldovan government did not support the MPs' proposals to cancel some of the 2021 measures to reduce cash turnover.
The government's conclusion on this issue notes that global trends show a rapid growth in non-cash transactions, and in most EU countries there are restrictions on the amount that can be paid in cash. Limiting the turnover of cash is one of the conditions for preventing and combating money laundering, at the same time, it will contribute to the growth of non-cash payments and reduce the size of fees applied by banks. According to the draft tax and customs policy for 2021, it is proposed that from January 1, 2021, cash transactions between economic agents should not exceed 100 thousand lei per month, while the size of one transaction cannot exceed 10 thousand lei, and On May 1, 2021, economic agents will not be able to receive from individuals cash payments exceeding 100 thousand lei for each transaction on the sale of goods or services. Economic agents (except for savings and loan associations and microfinance organizations) with sales exceeding 0.5 million lei will be obliged to install POS terminals by July 1, 2021 and ensure the possibility of making payments using them in subdivisions (except for small retail chains). This requirement will not apply to economic agents conducting settlements exclusively in cash (except for bank transfers) and if the activity is carried out in villages / communes that are not part of cities and municipalities. It is stipulated that the established restrictions will not apply when placing cash on accounts opened by credit organizations or institutions that provide payment services and are authorized by the National Bank, including cash machines. Exceeding the established limits will be sanctioned in accordance with the law. Dividing 100 thousand lei into multiple tranches in order to avoid the established limit will also be punished. // 15.12.2020 - InfoMarket.
