what changes with the new cash rules


of Luca Cifoni

A package divided into several measures that bets on the equation less cash less evasion. Symbolically it represents an important part of the strategy put in place with the Budget law, but in the immediate future it will not be able to give results in terms of higher revenues, and indeed it will entail additional costs given the need to finance incentives to consumers. Another problem with which the executive will have to deal regards the ability of the economic system to adapt to this change. A delicate point, which will have to be defined through agreements with the banking system, is the reduction of the fees charged for electronic payments and their eventual zeroing for small amounts. Let's see the main new features coming up.Cash, here's how to behave in order not to incur penalties

For payments to 1,000 euros but only in 2022

The maximum threshold for the use of cash, now set at 3 thousand euros, could fall to 2 thousand over the next two years and then from 2022 return to the level of one thousand euros, the one in effect until 2015. It should be remembered that this roof was born in the past as a tool to combat money laundering, rather than evasion in the strict sense. The limit, which includes cash and bearer bonds, concerns all transfers between different parties: for example payments for the purchase of goods and services or payment of salaries. However, it is not prohibited to withdraw or deposit cash in the bank for an amount above the threshold. Even artificially split payments to circumvent the ban are not permitted. However, installments remain possible: for example, a dentist and a client can agree to settle in cash with more monthly installments the consideration for a treatment that exceeds 3 thousand euros (and from 2022 the 1,000). Equally it is not punishable those who make individual payments differentiated to different cases in a department store.

Penalty from 30 euros up if the shop refuses the card

On paper, there has been an obligation since 2013 for merchants and professionals to accept payments by credit card or debit card; but currently there is no specific sanction, so in fact it has not been rigorously applied. Last year the Council of State rejected the ministerial decree with which the sanctioning mechanism was to be introduced. Now the government aims to circumvent the obstacle by intervening directly in the law that establishes the ban. A penalty of 30 euros is then set, increased by 4 percent of the transaction value, in order to make the economic penalty proportional to the amount of the transaction (on this point, however, there may still be adjustments). The general rule providing for the possibility of a reduced payment is then explicitly waived for merchants and professionals. The assessment against the interested parties can also be carried out by officers and judicial police officers.

From 2020 lottery of the receipts wins more who pays cashless

The lottery of the receipts will become operational from 1 January 2020. In reality, starting from that same date, it will leave for merchants, with a few exceptions (newsagents, tobacconists, street vendors, etc.), the obligation of electronic transmission of the fees and the traditional receipt will be replaced by a new commercial document. Specifically, therefore, you will participate in the lottery by communicating your tax code to the retailer (as is the case today for pharmacies). The new fiscal decree foresees that there are specific extractions destined to those who pay with electronic means, which in this way will increase the probability of winning. It is also established that the lottery prizes are completely tax free, while for operators who refuse to communicate the tax code or otherwise do not send the data relating to the consumer, thereby preventing them from participating, a fine of 500 to 2,000 euros will be imposed.

Reimbursement of expenses for the plumber: bonus on January 6th

The cashback project is perhaps the newest part of the cash incentive package proposed by the Conte government, but it has yet to be defined and specified. The idea is to reward those who pay with traceable tools in particular sectors where the risk of evasion is high: the reference is services for the home such as plumbers or electricians, catering, personal services (hairdressers etc.). These individuals should therefore be able to accept this type of payment. A part of the price paid should be returned to the buyer, not directly or even by tax, but probably through a repayment on the same credit card, which in the intentions of the President of the Conte Council should take place in a single solution on 6 January for the previous year's expenses. The first application of this mechanism would therefore be in 2021 but starting next year (perhaps not exactly from January) the collection of data relating to these payments would begin.


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