From 2021, it is planned to limit the turnover of cash between economic agents in Moldova.
According to the draft tax and customs policy for 2021, it is proposed that cash transactions between economic agents should not exceed 100 thousand lei per month, while the size of one transaction would not exceed 10 thousand lei. Trade units with a sales volume of over 0.5 million lei will be obliged to install POS terminals. This requirement will not apply to economic agents, settlements with which are carried out 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 institutions 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. The sanctions will not be applied to economic agents that purchase crop, horticultural and vegetable products from individuals who are not engaged in entrepreneurial activities; with patent holders, when making payments to the state budget. In addition, according to the bill, individuals will be limited to cash transactions - up to 100 thousand lei for 1 cash transaction. These measures are expected to stimulate non-cash transactions, especially since advanced technologies ensure the development of the digital economy and the use of optimal and fast payment solutions. The Ministry of Finance believes that the promotion of non-cash monetary transactions will have a beneficial effect on individuals and legal entities - they will be able to make payments quickly, receive higher income and save time. The capacity of state institutions to combat illegal employment and tax evasion will also be strengthened, and by improving monitoring, the transparency and security of transactions with funds will increase. It is noted that in the context of the pandemic, the use of cashless payments will help prevent the spread of Covid-19. The proposed measures will also stimulate non-cash transactions, creating the preconditions for lowering fees charged by financial institutions.// 24.11.2020 — InfoMarket.
