Portugal cash restrictions - Payments in physical cash of any nature or currency above 3000€ will be illegal

in #newslink7 years ago (edited)

So two parties, Bloco de Esquerda and Partido Social Democrata (left and right) just (gladly) promolgated a law that restricts any payment above 3000€ in cash.

The first project was limit 10000€ but the final end up with 3000€ cash payment restriction for any transactions, first introduced in May, passed now, only the republic president might vete the law now (unlikely).

CDS-PP (center-right) and PAN (nature and animal party) did not aprove the decision.

Just imagine as a tourist paying for something with, 5000€... now it might be a "fiscal offense" or something like that, and it applies to any currency.

There was already a restriction with commercial 10000€+ payments, the goverment consulted with the ECB. (so they could have drinks)

https://www.publico.pt/2017/07/19/economia/noticia/acima-dos-tres-mil-euros-passa-a-ser-proibido-pagar-em-dinheiro-1779730