The payment limit has been changed due to the Act Amending the Mortgage Loans Act, Supervision of Mortgage Loan Brokers and Agents, the Act Amending the Personal Income Tax Act, the Corporate Income Tax Act and some other laws.
The new regulations state that cash transactions with entrepreneurs may only be conducted to a certain amount. Above this amount – the transaction must be cashless. In addition, they also introduce a cash payment limit for transactions where the paying party is the consumer.
Cash ban: what are the new limits?
In transactions between entrepreneurs, the limit will be reduced from PLN 15,000 to PLN 8,000. The new commitment will be effective from January 2024.
If the transaction is made in a currency other than Polish – it will be necessary to use the average foreign exchange rate announced by the National Bank of Poland on the last business day preceding the day of the transaction.
The changes will also cover transactions between consumers and businesses. Above PLN 20,000, it will not be possible to pay in cash.
The consumer is obliged to make payments via the payment account if the one-time value of the transaction with the entrepreneur, regardless of the number of payments resulting from it, exceeds PLN 20,000 or an equivalent amount, and transactions in foreign currencies are converted into PLN at the declared average exchange rate of Before the National Bank of Poland.
The law also states that it is the exchange rate on the last business day preceding the day of the transaction. If several payments result from a single transaction and the total value of such transaction exceeds PLN 20,000, the above limit will be applied to them.
Why should we give up money and go without money
Cashless transactions are financial settlements made with money in the form of digital tokens, that is, without the use of cash. Cashless payments involve the electronic transfer of funds between two bank accounts.
Cesary Kamericzak, President of the Federation of Entrepreneurs and Employers, believes that it is better the way it is now. If they bring you a window, you have the option to pay for it on the spot. In many cases, this habit has taken root in the relationships between entrepreneurs or entrepreneurs and customers. This also applies to other deliveries of goods. The changes will have a negative impact on the economic turnover. The second reason, much more serious, is the desire of the banking lobby to get rid of cash. This progresses systematically, though not directly.
As he explains, attempts to get rid of criticism have surfaced before.
“They turned out to be very extreme. Step by step, these are small changes to get rid of cash. It has nothing to do with finances or honesty. Banks just want to make money this way,” he says.
He adds that liquidity liquidation has two dimensions.
The first is the question of personal freedom. The state or the bank knows exactly what we’re doing. It deprives people of their basic freedom, and not every person wants someone else to know what you bought and from whom. Then I pay cash and don’t talk about some illegal things, – confirms Cesary Kaymirchak, head of ZPP.
As the president of the Businessmen and Employers Association confirms, if the cash is liquidated, banks will offer commissions on each transaction.
– For a payment below, say, PLN 5, they will want something. Then it will be possible to charge very specific commissions to the consumer. If we could monetize, we’d have commissions on everything. Each payment will be “taxed” by the bank. Currently, banks do not charge fees for transfers and card payments in most cases. If they start charging – both of us can pay cash. We have an alternative. It will be different if you can’t pay in cash – explains Cezary Kaźmierczak.
In turn, the legislator believes that limiting the circulation of cash eliminates the gray area – it makes it impossible to avoid paying taxes and to be employed without contracts. In addition, it facilitates the fight against terrorism, as well as money laundering by organized crime. ([email protected]) aka pixabay
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