Summary of the provisions of Law no. 70/2015 on cash receipts and payments:
- Obligation to use cashless payment instruments (Art. 1, para. 1):
Legal persons, PFAs, sole proprietorships and family businesses, self-employed professionals, other entities and associations must carry out collections and payments exclusively through cashless payment instruments.
Exceptions:
The obligation does not apply to:
State Treasury;
Non-bank credit and financial institutions;
Institutions issuing electronic money;
Gaming operators and foreign exchange bureaux.
- Limits for cash receipts and payments (Art. 3 paragraph (1):
- a) Cash receipts:
Maximum RON 5,000/day from one person (Art. 3, paragraph 1, letter a).
For cash and carry shops: maximum RON 10,000/day from one person (Art. 3 paragraph (1)letter (b).
- b) Payments:
To persons referred to in Art. 1 para. 1: a maximum of RON 5,000/day/person and no more than RON 10,000/day (Art. 3 paragraph(1) letter (c).
To cash and carry: maximum RON 10,000/day (Art. 3 paragraph 1 letter d).
From advances for settlement: maximum RON 5,000/day/person (Art. 3 (1) (e).
- Prohibitions on the fragmentation of transactions:
It is prohibited to fragment payments or invoices in order to avoid exceeding limits.
Exception: hire-purchase contracts with payment by installments (Art. 3(9).Excepție: contractele de vânzare-cumpărare cu plata în rate (art. 3, alin. 9).
- Operations between natural and legal persons:
Cash receipts/payments for deliveries of goods, rendering of services, dividends, or assignments of receivables may not exceed 10,000 lei/day/person.
Prohibitions:
Fragmentation of transactions or invoices for amounts above the limit is prohibited.
Loans between natural and legal persons shall be made exclusively by non-cash instruments (Art. 3, para. 13).
- Limits for cash in the cashier:
Persons referred to in Art. 1: maximum RON 50,000/day (Art. 3, par. 15).
Cash and carry shops, hypermarkets: maximum RON 500,000/day (Art. 3, paragraph 16).
Exceeding the limit:
Cash exceeding the limit must be deposited in bank accounts within two working days, with the exception of amounts for salaries, staff entitlements and other operations with individuals, allowed for three working days.
These regulations ensure controlled cash management and encourage the use of cashless payment instruments to reduce tax evasion and modernize financial transactions.