An entire package to limit their use cash at the market is preparing the Finance Ministry.
The biggest change is the plan that cuts the cash usage limit from € 500 per day to € 300 per transaction today. Transactions of over € 300 will not be made in cash but only by credit or debit card or by e-banking.
At the same time, other measures are planned, such as the compulsory establishment of POS in other professional sectors, the increase in plastic money, ensuring the tax-free limit for employees, pensioners and farmers, the connection of POS to cash registers.
In particular, the measures examined are as follows:
- Transactions of over € 300 will not be made in cash but only by card
- Expansion of the obligation to install POS in dozens of professions. The decision is expected to be issued by the end of the year.
- Increase in income rates that taxpayers will have to pay for electronic transactions to secure the tax-free limit.
One of the scenarios under consideration is that progressive scale factors are shaped into:
-15% from 10% today for income up to 10,000 euros. This means that an employee with an annual income of EUR 10,000 to secure the tax-free limit should carry out e-money transactions of EUR 1,500 from 1,000 euros today.
-20% from 15% today for income from 10,000,01 euros to 30,000 euros.
-25% from 20% for income from 30,000,01 euros or more.
From the beginning of 2019 electronics are made the books of income and expenses held by freelancers and businesses. The Independent Public Revenue Authority has begun setting up the online application that traders will use to electronically update their books with the revenues and expenses they make each month.
In the PAP's plans, following the full implementation of e-books, the abolition of periodic VAT declarations is abolished, since the information given in these statements will automatically be obtained by updating the books. Any revenue or expense registration will be displayed simultaneously on both the Trader's computer and the Taxisnet.
The application will contain:
A special form in which all revenue from sales of goods and services will be recorded in detail.
A special form in which the company's costs will be recorded in detail.
The sum of revenue and expenditure for each day, as well as for each month, for the quarter and for the whole of the year or year (as some companies keep books in over twelve months) will appear.
Soon, scrutiny will begin and sanctions will be imposed on professionals (accountants, real estate brokers, traders, etc.) in the "nets" of the auditors and who within two months of the entry into force of the new provisions have not adapted to the new money-laundering conditions.
It is worth noting that the most common practices recorded by the AAD are, among others, the following:
- Customer's inability to produce the forefinger identification documents when signing the transaction.
- A representative of a legal person attempting to carry out a transaction on behalf of the legal person refuses to provide the forensic certification and verification documents of the legal person.
- Customer's insistence on making and paying in cash, high-value transactions.
- A personal account of the owner or employee of the company, instead of the company account, is used to conduct a company transaction to hide sales or other corporate events.
- Purchases of high-value goods such as recreational craft, luxury cars or works of art are made by persons located in offshore areas or a low-tax country whose actual beneficial owner is a natural person with a declared income that does not justify such purchases.
- A lawyer is reportedly using personal accounts for transactions by natural or legal persons he represents.
- Unusual nervousness in the behavior of persons when conducting a transaction.
- Repeated similar transactions for amounts slightly below the minimum threshold for which due diligence is required.
- Frequent change of address of the client, which is not justified by his professional activity.
- Client cases that constantly change their appearance and behavior, suggesting a change in their standard of living.
- The phone of the home or business of the customer is off.
- The existence of suspicion or the establishment of a virtual business by the customer.
- The sale of property appears to have taken place without the legal form being complied with, e.g. with a private agreement
- From the property data mentioned in the transfer agreement, it appears that the property has been the property of the seller very recently (successive real estate transactions).