Limits to the use of cash in Italy in 2023

Limits to the use of cash in Italy in 2023

​In Italy, cash transactions are subject to various limits, which are intended to combat money laundering and tax evasion.

As of January 1, 2023, thanks to the 2023 Budget Maneuver, the threshold for all payments in cash has been set at € 5,000 (five thousand euros). This means that it is possible to pay in cash sums up to € 4,999.99 and that beyond this threshold, if you pay in cash, you will incur sanctions (from € 3,000 up to € 50,000). Transactions above this amount must be made using electronic means such as a bank transfer or debit or credit card.

In case of violation of the threshold, both the person making the payment but also the one who receives it are sanctionable.

The Ministry of Economy and Finance in the Faqs dedicated to this measure specified that the prohibition exists regardless of the lawful or unlawful nature of the transaction to which the transfer refers, since it is an “objective” offence, in which the reasons for the transfer of funds are not relevant for the existence of the violation.

It is always possible to pay partly in cash and partly by check or wire transfer, but always respecting the limit of € 5,000 total in cash. Therefore, it is not possible to bypass the limit by spreading the cash payment over several smaller payments.

You can find more guides here > Legal Guides

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