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Israel almost banned cash

Restrictions also apply to money provided on credit.

Restrictions also apply to money provided on credit.

A photo: GLOBAL LOOK PRESS

Israeli authorities once again reduce the use in the country cash – from August 1, the amounts that can be used to pay for goods and services will almost halve. At the same time, innovations will affect both businesses and citizens.

According to the new requirements, it will be possible to pay in cash for goods in favor of a business, for example, for purchases in electronics or household appliances stores, as well as for services (when paying a contractor for home repairs, etc.), it will be possible to pay only 6,000 shekels (about 110 thousand rubles). ).

Previously, the law allowed for such operations in the amount of 11,000 shekels (more than 200 thousand rubles) and, according to experts, for some types of business, the innovation may become critical.

When settling among themselves, Israeli citizens are allowed to use cash in the amount of up to 15,000 shekels (almost 274,000 rubles). Restrictions also apply to money provided on credit.

The new rules are designed to reduce the number of shady deals that bypass the budget, make tax evasion and money laundering even more problematic. JP.

For the first time, such restrictions were adopted in Israel about two years ago, and in 2021 the rules were tightened, but now the authorities have decided to tighten the screws even more.

To pay more significant amounts than provided by law, citizens will have to use bank cards or transfers. In addition, the tax authorities will closely monitor attempts to split payments for transactions – this is considered unacceptable.

The exception is transactions for the sale of a car – the ceiling of 50,000 shekels (913,000 rubles) remains here, as well as when paying for goods and services to residents of Gaza.

Violators of the law (both citizens and businesses) will be fined, and criminal penalties may be applied to especially malicious ones.

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