The State Tax Service will impose fines for exceeding the limit

9 March 2013 14:37  10631425 032049
The State Tax Service will impose fines for exceeding the limit

If the limit of cash transactions exceeds the threshold of 150,000 UAH, the State Tax Service will impose penalties. This was announced during the "round table" by the deputy director of monetary regulation department of the NBU Oksana Halyts, reported Ukrinform.

On the first violation, the amount of the fine will be between 100 to 200 times non-taxable minimal income (1700-3400 UAH). If you breach the limit again, the amount of the fine will increase by 5 times, Halyts says.

As you know, Monday, March 4, the National Bank published a draft resolution "On establishing threshold for cash payments," which requires all payments exceeding 150,000 hryvnias to be executed in cashless form. The document applies to natural persons agreements with companies, as well as transactions between natural persons subject to notarization. 

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