CAVOK@lemmy.world to Europe@feddit.orgEnglish · 1 month agoEuropean Union to ban cash payments above €10,000www.theportugalnews.comexternal-linkmessage-square146linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1external-linkEuropean Union to ban cash payments above €10,000www.theportugalnews.comCAVOK@lemmy.world to Europe@feddit.orgEnglish · 1 month agomessage-square146linkfedilink
minus-squareatomicbocks@sh.itjust.workslinkfedilinkEnglisharrow-up0·1 month 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-up0·1 month 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-up0·1 month agoAFAIK wire transfers are still considered cash transactions.
minus-squareSlashme@lemmy.worldlinkfedilinkEnglisharrow-up0·1 month 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.