Holidays? Pay attention to cash payments: what are the risks

Holidays? Pay attention to cash payments: what are the risks
Holidays? Pay attention to cash payments: what are the risks

Summer is approaching and Italians, especially after having been forced to comply with the strict anti-covid regulations by spending most of their time at home, begin to organize trips and holidays. Therefore, reservations for hotels and bed and breakfasts, as well as for apartments and private homes, start from far away.

Especially in cases where an agreement is privately established between vacationers and owners of a property, it may be tempting to make and accept payments directly in cashHowever, it is good to remember that there are strict limits imposed by law in this regard. Without considering the fact that violations of the limits imposed from above as regards the use of cash can involve, in addition to the payment of sometimes very heavy penalties, also special attention by the tax authorities.

Given that the law does not admit ignorance, that is, it does not allow any transgressors to appeal to the lack of knowledge of a certain rule, the limit to the use of cash imposed from above to favor electronic and therefore easily traceable transactions must be well present.

According to the provisions of Legislative Decree 178/2020, the cash payment, and therefore also the acceptance of this amount by the recipient, must never exceed the limit of 1999,99 euro. For precision, cash must be understood as both coins and banknotes and bearer securities. A violation of the maximum limit imposed by law, if it is obviously identified, involves financial penalties that can even reach considerable amounts: in fact, it starts from a minimum of 2 thousand euros in fines up to a maximum of 50 thousand euros.

The constraint currently in force will remain so until next December 31, after which it will become even more stringent. Starting from January 1, 2022, in fact, the possibility of paying in cash will be reduced by an additional 1000 euros, down to the maximum amount of 999,99 euro. Also in this case, the administrative penalties will affect not only the taxpayer who pays services and services in cash, but also those who accept the money, not demanding the use of electronic and therefore traceable forms of payment.

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