November 17 2019
How much cash can you withdraw from the bank? This is the question that Italians are asking themselves today in light of the intricate legislation that introduces more stringent controls on the use of cash since 2020. To the point that the succession of news on the use of cash from concern is becoming an obsession for Italian tax payers.
To date it is not clear whether the cash withdrawal at the counter is subject to checks or not. The law does not impose a limit on the withdrawal of cash in the bank, but only a limit to the traceability of payments that cannot exceed € 3,000 (a limit that will fall to 2,000 from 1 July 2020).Therefore, the dentist’s bill, for example, can also be paid in cash if it does not exceed this threshold. But this is a limitation that applies only to the purpose of combating tax evasion and concerns the controls that the tax authorities make on the traceability of payments.