CAVOK@lemmy.world to Europe@feddit.orgEnglish · 3 days agoEuropean Union to ban cash payments above €10,000www.theportugalnews.comexternal-linkmessage-square164fedilinkarrow-up1260
arrow-up1260external-linkEuropean Union to ban cash payments above €10,000www.theportugalnews.comCAVOK@lemmy.world to Europe@feddit.orgEnglish · 3 days agomessage-square164fedilink
minus-squareatomicbocks@sh.itjust.workslinkfedilinkEnglisharrow-up2·2 days agoMostly people who are ‘investing’ in houses. For instance it is legal to use profits from the sale of property to buy more property and not pay taxes on that income as long as it’s done within the same calendar year in most US states.
minus-squareranzispa@mander.xyzlinkfedilinkEnglisharrow-up5·2 days agoWhy would you do it with cash though? It’s pretty uncomfortable to walk around with a luggage filled with 500,000€
minus-squareatomicbocks@sh.itjust.workslinkfedilinkEnglisharrow-up1·2 days agoAFAIK wire transfers are still considered cash transactions.
minus-squareSlashme@lemmy.worldlinkfedilinkEnglisharrow-up4·2 days agoThat’s not what this law is about. This is about banning the use of banknotes for large transactions.
Mostly people who are ‘investing’ in houses. For instance it is legal to use profits from the sale of property to buy more property and not pay taxes on that income as long as it’s done within the same calendar year in most US states.
Why would you do it with cash though? It’s pretty uncomfortable to walk around with a luggage filled with 500,000€
AFAIK wire transfers are still considered cash transactions.
That’s not what this law is about. This is about banning the use of banknotes for large transactions.