Today UK News
December 14, 2022
The European Commission has warned Italy’s new rightwing government against enacting plans to promote the use of cash, which Brussels said would run counter to Rome’s commitment to fight against tax evasion.
Italy’s prime minister Giorgia Meloni, head of the arch-conservative Brothers of Italy, wants to lift the legal ceiling for cash transactions to €5,000, reversing a pledge by previous Italian governments to cut the limit from its current level of €2,000 to €1,000 from January 1. Meloni also wants to hand merchants the right to refuse to accept digital payments for transactions below €60 without fear of penalty.