Edited by Sergio Silvestri

The threshold for cash payments has changed: starting January 1, 2022, it will increase from €1.999,99 to €999,99. The goal is to achieve a greater number of traceable payments and a reduced use of cash. The new threshold, already established with the publication of Law No. 157 of 2019 in the Official Journal, was subsequently confirmed by the Ministry of Economy and Finance. This new threshold of €999,99 applies to any type of payment, i.e., the transfer of money between individuals or legal entities. From the purchase of an asset to a loan of at least €1.000, each transaction must be carried out with a traceable payment method, such as a bank transfer. There will be no change for bank withdrawals and deposits, as these are not transfers of money between two different parties. Regarding penalties, both the payer and the recipient can be punished with the €999,99 limit; starting January 1, 2022, the minimum will be €1.000. For professionals or anyone who fails to report irregularities to the local authorities, the fine remains set at between €3.000 and €15.000, with a minimum threshold of three times the amount imposed for those who commit the violation. Another new measure is an amendment to the decree law implementing the Recovery and Resilience Plan (PNRR), which provides for fines for those businesses that do not accept payment by debit or credit card.

The administrative fine will be 30 euros, increased by 4% of the value of the sale or service for which digital payment was not accepted.