Yesterday the lower chamber of the Polish Parliament accepted a government amendment connected with reduction the maximum permissible of cash amount transaction between entrepreneurs. Nowadays, there is a minimum limit of EURO 15,000. Every transaction over this amount need to be made by bank transfer. However, from January 1, 2017 this amount will be still 15,000 but PLN.
According to the amendment, if a payment of over PLN 15,000 PLN is made by cash and not by bank transfer, the paying party will not be allowed to qualify such expenditure as its tax deductible cost. These changes, according to the government, should reduce the shadow economy.
Now it is expected that Senat will accept this amendment and the President will sign it soon.