Slovenia Nearly Bans Cash Outright

Thanks to Jon Matonis for this info:

According to recently amended tax law in Slovenia, a new maximum has been placed on the amount of cash that can used to pay a bill. Previously an already low 420 Euros, the limit has just been reduced to 50 Euros, which essentially bans cash from being used in all but the smallest of transactions (translated text):

"In the Official Gazette 101/11 of 12.12.2011 has been published Regulations Amending the Rules on the Implementation of the Law on Tax Procedure. Significant changes are mainly two.

In the second and third paragraphs of the first Article, the amount "EUR 420" is replaced by the amount of "50 euros". The cash can then pay bills only up to 50.00 euros (previously € 420.00)"

It appears that Slovenia might just beat Italy in the race to eliminate financial privacy and force citizens to use fee-based payment methods for all transactions.

On that note, here are some groin stretches you can do so it doesn't hurt too badly when we all have to start goose-stepping:

Posted in: cash,privacy,Slovenia