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EU-wide maximum limit of €10K for cash payments

consilium.europa.eu

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Re: EU-wide maximum limit of €10K for cash payments

#131

Post by thaumasiotes »

flandish wrote: post #24
tgv wrote: post #9

Earlier quoted context omitted.

If you can't explain where it comes from. Otherwise, it's yours to do with as you please.

Get the boot out of your mouth. If cash is legal tender, then any amount is, by default, legal. This law makes it not fully legal tender (after amount X). It is disgusting. Stop pretending the government (any) has the “average” man’s best interest. Stop pretending they care.

> If cash is legal tender, then any amount is, by default, legal.

Cash being "legal tender" means that, if someone sues you and wins a judgment, you're entitled to pay the judgment in cash.

It doesn't mean that anyone willing to exchange a service or item for any random service or item is also compelled to exchange their thing for cash. If they demand a live sheep, you'll give them a live sheep or do without whatever they're offering.

Re: EU-wide maximum limit of €10K for cash payments

#132

Post by peoplefromibiza »

freefaler wrote: post #112

The EU "government" (a non-directly elected entity) is predictably trying to enforce tax rules. Even worse is the minimum tax on profits that targets the poorer members by removing one of the ways they can compete with bigger ones. "...No Ireland, you're not allowed to have low taxes, we the guideposts of EU - France and Germany tax our people and companies up to 30-45%, what's that meager 10% tax you're giving them?…

> a non-directly elected entity

The EU Parliament is composed of 705 members (MEPs). It represents the second-largest democratic electorate in the world (after the Parliament of India), with an electorate of 375 million eligible voters

p.s. even the US president is a non-directly elected entity

Re: EU-wide maximum limit of €10K for cash payments

#134

Post by peoplefromibiza »

woodpanel wrote: post #68

I just love how the grandstanding of European green-progressives of the past, when they positioned themselves as champions of privacy, completely flipped once they came to power. "Name one practical reason to pay amounts higher than 1.000€ in cash." – unknown progressive

> "Name one practical reason to pay amounts higher than 1.000€ in cash."

it's 10.000 euros, you're off by an order of magnitude.

Can you name one practical reason to pay more than 10k cash?

Re: EU-wide maximum limit of €10K for cash payments

#135

Post by chordalkeyboard »

WirelessGigabit wrote: post #114
defrost wrote: post #6

It's a spreadng practice. Australia is introducing (or may have already passed?) a similar Act with an AU $10K limit on "unapproved" cash transactions. Over the limit you'll need approval. Of course the usual loophole for the weathy applies, 3x $3,000 face value gold bullion coins [1] is under the cash transaction limit, although at a kilo each and ~$88K per in valuae, that's almost $300K in value technically under a…

I couldn't find the face value of those coins? If I understand correctly you're saying: there is a coin that I can buy for $100,000 (because of its weight in gold) yet it is stamped with $1, which is its face value. As such it only counts as $1, and this thus is not reportable?

face value is 3000 Australian Dollars.

Re: EU-wide maximum limit of €10K for cash payments

#136

Post by namdnay »

freefaler wrote: post #112

The EU "government" (a non-directly elected entity) is predictably trying to enforce tax rules. Even worse is the minimum tax on profits that targets the poorer members by removing one of the ways they can compete with bigger ones. "...No Ireland, you're not allowed to have low taxes, we the guideposts of EU - France and Germany tax our people and companies up to 30-45%, what's that meager 10% tax you're giving them?…

> a non-directly elected entity

Like most governments?

Re: EU-wide maximum limit of €10K for cash payments

#137

Post by mcv »

woodpanel wrote: post #68

I just love how the grandstanding of European green-progressives of the past, when they positioned themselves as champions of privacy, completely flipped once they came to power. "Name one practical reason to pay amounts higher than 1.000€ in cash." – unknown progressive

They want privacy for regular people, accountability for the rich and powerful.

Re: EU-wide maximum limit of €10K for cash payments

#138

Post by peoplefromibiza »

oxff wrote: post #38

Nothing to do with "fighting corruption" (or else a literal convicted felon wouldn't be head of ECB, - lol, lmao even) they just want to monitor you more.

nothing says "already paid" as a credit card transaction.

Maybe you prefer to keep paper receipts for tens of years and prove they are legit, I honestly don't.

Re: EU-wide maximum limit of €10K for cash payments

#139

Post by collegeburner »

andai wrote: post #129
retinaros wrote: post #125

its always to fight corruption and trafficing right?

It's to phase out cash. Can't be a good citizen unless every transaction is logged and monitored!

and in 5 years, you'll be using the great new CBDC! so the ECB can automatically remove your money to comply with negative interest rates!

Re: EU-wide maximum limit of €10K for cash payments

#140

Post by mcv »

kuon wrote: post #22

Here in Switzerland we used to use cash for a lot of things, I remember paying my car in cash. It has changed a lot with covid. I do not know the regulation on any limit.

My mother once told me that when they bought their first house in 1980, she had to go to the bank to withdraw the mortgage loan in cash, bicycle to another bank (or possibly the notary?) to pay for the house in cash. She was understandably nervous, carrying that much money around.
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