Italy: Decree Law to Create Urgent Provisions on Tax Matters to Limit the Use of Cash and to Combat Illegal Gaming Published in Official Gazette

On October 26, 2019, the decree law of October 26, 2019 on urgent provisions on tax matters (decreto legge 26 ottobre 2019, no. 124. Disposizioni urgenti in materia fiscale e per esigenze indifferibili) was published in the official gazette. 

The decree law introduces various measures, some of which apply to payment service operators: 

1. Measures restricting the use of cash (Article 18)
The decree introduces a new provision for cash transactions to be limited to €2,000, from July 1, 2020 until December 31, 2021. As of January 1, 2022, the cash transactions threshold will be lowered further to €1,000.

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