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Monday, March 4, 2024

Cash payment limit. MPs to change the rules

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On Friday, the Sejm passed an act repealing the restrictions on cash payments made by consumers and entrepreneurs, which were to enter into force on January 1, 2024.

On Friday, the Sejm voted in favor of amending the Personal Income Tax Act, the Corporate Income Tax Act and some other acts. It is about deleting the provisions introduced as part of the Polish Deal regarding restrictions on cash payments. They were supposed to come into force from the beginning of next year.

438 deputies voted for the act, eight were against, none of the deputies abstained from voting.

The purpose of the new regulations is to delete the provisions under which entrepreneurs in relations with other entrepreneurs may pay in cash only when the one-off value of the transaction, regardless of the number of payments, does not exceed PLN 8,000. zloty. The adoption of the act means that the current limit of 15,000 will remain. zloty.

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Ordinary Kowalski’s transactions

Another solution introduced as part of the Polish Deal is imposing an obligation on the consumer to pay via a payment account if the value of the transaction – regardless of the number of payments – exceeds PLN 20,000. zloty. This solution was also to enter into force on January 1, 2024 and is also to be deleted on the basis of the act adopted on Friday.

The Act also provides for the deletion of provisions limiting cash payments, which are included in the Act on Flat-Rate Income Tax on Certain Revenues Earned by Natural Persons.

The bill will now go to the Senate for consideration.

Read also: Ziobro praises cash. “The fight against the gray zone goes to the background”

Main photo source: Shutterstock

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