According to the amendments published on 11.11.2023 to Law 70/2015 in the field of financial discipline regarding cash receipts and payments, we inform you about the latest version:
Cash receipts
– Cash receipts may be made from legal entities, authorized individuals, family businesses, associations and entities with or without legal personality within a daily limit of 5,000 lei /person.
– It is forbidden to issue split invoices for a delivery of goods or provision of services whose value is higher than 5.000 lei
– Cash & Carry shops may make cash withdrawals from the same persons up to a maximum limit of 10.000 lei/person
– Fragmented cash receipts for invoices with a value of more than 5,000 lei are prohibited. An invoice issued for a supply of goods or services whose value is more than 5.000 lei can be collected as follows: in cash, only by a single collection within the limit of 5.000 lei, the difference can be collected only by bank instruments.
– It is forbidden to grant any advantages to clients for making cash payments.
Cash payments
– Cash payments may be made to legal entities, authorized individuals, family businesses, associations and entities with or without legal personality up to a daily limit of 5,000 lei/person, but no more than a total limit of 10,000 lei/day.
– Payments to cash and carry shops, up to a total daily limit of 10,000 lei
– Payments from advances for settlement, up to a daily limit of 1,000 lei per person
– Fragmented cash payments are prohibited for invoices with a value greater than 5,000 lei, respectively 10,000 lei in the case of cash and carry shops. An invoice whose value is more than 5.000 RON/10.000 RON can be paid in cash only by a single cash payment within the limit of 5.000 lei/10.000 lei, the difference can be paid only by bank instruments.
– Within the limit of the daily limit of cash payments, the amount of RON 10,000/day includes advances for settlement granted to employees (but not more than RON 1,000/employee). The payment of travel expenses in the interest of the service are exempted from this limit , within the limit of the amounts due for the payment of transport, daily subsistence allowance, accommodation and other unforeseen expenses incurred in this respect.
– Cash receipts/payments may be made between legal entities, authorized individuals, family businesses, associations and entities with or without legal personality and individuals for deliveries/purchases of goods/provision of services, dividends, assignment of claims or other rights, receipt or repayment of loans or other financing, within the daily limit of 10,000 lei to/from one person and it is also prohibited to fragment them for receipts/payments operations exceeding 10,000 lei.
– It is forbidden to make cash payments/receipts to/from individuals in the capacity of associate/manager, representing loans. The law is ambiguous regarding the granting/refund of cash loans in relation to natural persons other than those who are partners/administrators, because one time it is limited to the limit of 10,000 lei/person and another time it is prohibited.
Cashier balance
– The amount of cash in the cashier’s office may not exceed, at the end of each day, the limit of 50,000 lei. Cash amounts exceeding the limit shall be deposited in their bank accounts within 2 working days.
– The limit of 50.000 lei can be exceeded only for amounts related to salary payments, other rights and personnel and for purchases from individuals for a period of 3 working days only.
– If the amount exceeding the limit of 50.000 lei is not used for the payment of personnel rights or purchases from individuals or is much higher than the amount necessary for their payment, the entity is obliged to deposit the respective amounts at the bank within 2 working days.
Exceptions to limits
– Cash deposits in accounts opened with credit institutions, including cash deposit machines
– Payment of travel expenses on official business, within the limits of the amounts due for transport, subsistence, accommodation and other unforeseen expenses incurred in this connection
– Payment in cash of taxes, duties, contributions, fines and other obligations owed to the general consolidated State budget
– Cash withdrawals from accounts opened with credit institutions
– Depositing cash in cash dispensers that operate on the basis of banknotes or coins
– The refund of amounts in the case of goods returned by customers or services not rendered follows the same rules as above.
– Cash payments and cash receipts may be made between natural persons within a daily limit of 50,000 lei maximum and no fragmentation of transactions or payments/receipts is allowed.
Fines
– Failure to comply with the provisions is punishable by a fine of 25% of the amount collected / paid, respectively held in the cashier, which exceeds the limit established by law, for each type of operation, but not less than 500 lei.
– Failure to comply with the provision on granting advantages to customers for making cash payments is punishable by a fine of 15,000 lei to 20,000 lei.
All these legislative changes will enter into force on 11 November 2023.