In accordance with the Dutch Recovery and Resilience Plan (HVP), the country has a limit on the size of cash payments: the upper limit for such payments is 3000 euros. It is currently believed that this restrictive measure will end on March 31, 2025. However, Finance Minister Van Weyenberg sent to parliament writing, in which he proposes to maintain this measure further.
What is the reason for this proposal?
This decision is planned as part of the bill on combating money laundering and terrorist financing. Large cash payments are often used by criminals to launder criminal proceeds and payments to radical organizations and their members. The minister believes that lifting the restriction, among other things, would cost the Dutch treasury 600 million euros a year due to tax evasion. In addition, lifting the cash payment limit is inconsistent with the pan-European anti-money laundering plan, which is due to come into force in 2027.
Will the limit on cash payments remain?
Previously, the Dutch Parliament declared the Anti-Money Laundering Plan bill controversial. Time will tell whether the government will be able to convince parliamentarians this time.
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