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Restrictions on cash transactions between individuals to come into effect in 2017

  • 2016-12-23
  • BNS/TBT Staff
RIGA – In order to curb fraudulent deals and prevent money laundering, cash transactions between natural persons will be limited to EUR 7,200 as of January 1, 2017, the State Revenue Service told the media. The restriction only applies to transactions that are carried out in cash. No such restrictions will be imposed on transfer settlements between natural persons. As of January 1, 2017, natural persons who are not engaged in carrying on a business will not be allowed to engage in cash transactions the value of which exceeds EUR 7,200, according t...
 
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