Expected to be approved by early next year, a plan to further limit the amount of cash Italian businesses can accept from customers will likely result in more compliance work for banks, say industry officials. Championed by the Italian Bankers Association and Bank of Italy, the proposal would lower the threshold of cash transactions allowed for all businesses from 2,500 to 300 euros. The move would follow the passage of at least three other laws that limited cash transactions in the past two years as part of an effort to thwart tax evaders. The plan, mentioned as part of a...
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