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18 Sep 2017
The European Union limits cash

It’s about paying in cash, in the amount of 10 000 euros and above – such operations now will have to be carried out only with the help of plastic cards and bank transactions. The corresponding order of the EU headquarters touched all the countries of the European Union, and Cyprus in particular.
Recall that at the moment the cap on payment by the cache has not yet entered into force, however, the Cyprian Ministry of Finance is already engaged in the development of a new bill. According to preliminary data, the penalty for large transactions in cash will be 10% of the total payment amount.

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