Cash payments when buying real estate will be accepted only if the value of the real estate does not exceed 100 average monthly salaries in the economy (1.37 million lei), while when buying a means of transport – 50 average salaries in the economy (685,000 lei). The MPs on Thursday gave a final reading to the draft law that stipulates more precise rules on cash circulation in the economic circuit and orientation towards making payments by transfer. They decided that the law will take effect on January 1, 2025, not in three months of its adoption, as it was suggested earlier, IPN reports.
Depending on the category, the limit on cash payments will be 100,000 lei cumulatively monthly or annually. The new provisions will apply to legal entities, regardless of the type of ownership and legal form of organization, except for public authorities and institutions. The new conditions refer to noncommercial organizations, individuals carrying out entrepreneurial activities, permanent representative offices and branches of nonresident entities, and individuals buying real estate or means of transport from other individuals.
The limit for collecting cash payments from individuals who do not carry out entrepreneurial activities will be 100,000 lei per payment. For situations in which individuals, when purchasing real estate and means of transport whose value does not exceed the set limits (100 and 50 forecasted average salaries), will want to make payment by transfer and will have to deposit the available cash in the account, they will submit self-declarations regarding the origin of the money.
The commissions for making settlement by transfer will be limited. Thus, commissions or other payments charged by payment service providers in Moldova cannot exceed 0.1% of the amount paid by transfer, including for cash withdrawal. For the violation of the limits when making and collecting cash payments, fines ranging from 3% to 10% of the amount will be imposed.
