Economic agents, except for savings and loan associations and nonbank lending organizations, are obliged by July 1 to ensure the acceptance of cashless payments in Moldovan lei through payment service providers licensed by the National Bank of Moldova, IPN reports.

This obligation must be fulfilled within the physical subdivisions, except for itinerant trade networks, where revenues from wholesale or retail sales, or from the provision of services through cash register and control equipment exceeded the amount of 500,000 lei the previous calendar year.

The State Tax Service said that these provisions do not apply if the payments in the respective subdivisions were made exclusively without cash, except for those made by commercial banks, or the respective subdivisions are located in villages, except for those in municipalities and cities.

Failure to comply with these provisions is punished with a fine of 4,000 to 6,000 lei for each case. The penalties are imposed and monitored by the State Tax Service.