As of 1 January this year, the limit on the use of cash increased from EUR 1,999.99 to EUR 999.99.
The prohibition on using amounts equal to or exceeding the indicated limit concerns, pursuant to Article 49(1) of Legislative Decree 231/2007, transfers of cash (and bearer securities) made for any reason between different parties (natural or legal persons).
The limit on the use of cash also applies to fractional payments; in essence, an invoice exceeding EUR 999.99 cannot be paid in cash, even partially, but must necessarily be paid in full by bank transfer, cheque or, in any case, through the banking and postal system, electronic money institutions and payment institutions.
This is without prejudice to the specific derogation for foreign tourists, who, under specific conditions, may make cash purchases within the EUR 15,000 threshold.
For each violation, a fine ranging from EUR 1,000 to EUR 50,000 shall apply; for violations involving amounts exceeding EUR 250,000, the minimum and maximum fine shall be increased fivefold.