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Cash payment limit. Senate to amend the law

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The Senate, without amendments, adopted the act repealing the restrictions on cash payments made by consumers and entrepreneurs, which were to enter into force on January 1, 2024. The bill will now go to the president.

During Friday’s vote for the bill without amendments, 95 senators voted, no one voted against, no one abstained from voting.

It is about the amendment to the Personal Income Tax Act, the Corporate Income Tax Act and some other acts adopted in mid-June by the Sejm. It removes the provisions introduced as part of the Polish Deal concerning restrictions on cash payments. They were supposed to come into force from the beginning of next year.

The purpose of the new regulations is to abolish the provisions under which entrepreneurs in relations with other entrepreneurs could pay in cash only when the one-time value of the transaction, regardless of the number of payments, does not exceed PLN 8,000. zloty. The amended act assumes leaving the current limit of 15,000. 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 to come into force also from January 1, 2024 and is also to be deleted on the basis of the act adopted by the Sejm.

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.

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

Main photo source: Kamil Zajaczkowski / Shutterstock

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