Limits for cash money used might be established in Moldova

Chisinau, 22 November /MOLDPRES/ - The parliament’s commission for economy, budget and finances, at a today’s meeting, considered a draft law which envisages more accurate norms as to the circulation of cash money in the economic circuit and orientation to the making of payments by transfer.    

The provisions of the draft will be applied to the legal entities, no matter the property and legal form of organization, except for the public authorities and institutions. The new conditions will be applied to the non-commercial organizations, private people who carry out entrepreneurial activity, resident representations of the branches of the non-resident entities, as well as to the private people who buy real estate or transport means from other private people.  

Depending on the category in which they fit, the limit of the payments made in cash will be of 100,000 lei cumulatively monthly or annually. In the context, the limit for the collection of payments in cash from private people who do not carry out entrepreneurial activity will be of 100,000 lei for one payment. Thus, when buying a real estate, the payment in cash will be accepted, only if its value does not exceed 100 average salaries on the economy and in the case of purchasing a transport means – 50 average salaries on the economy.  

The draft sees that the notaries will be obliged to make sure that the payment was made by transfer; otherwise, they will not authenticate the sale/purchase contract. Also the Public Services Agency will be obliged to make sure that the payment was made by transfer, when it notes the transfer of the title to transport means; otherwise, it will not record the title in the state register.  

At the same time, the economic agents will be able to unlimitedly use cash money for the remuneration of labour and other payments generated based on the labour relations, in order to fulfill the obligations related to the loans borrowed from financial entities, make discounts with the public institutions and authorities, pay fiscal obligations, payments and fines to the national public budget.   

The draft also envisages the limiting of the commissions applied for the carrying out of the discounts by transfer.