Italy to ban cash transactions over 5,000 euros
ROME, May 26 (Reuters) - A deficit cutting package due to be
approved by Italy on Tuesday will ban cash transactions for more than
5,000 euros ($6,188) in an effort to crack down on tax evasion, a
government source said on Monday.
Reducing the ceiling on cash transactions, which currently stands at 12,500 euros, forms part of the package of public sector
hiring and wage reductions and spending cutbacks being prepared by
Economy Minister Giulio Tremonti, the source said.
The limit will also apply to cashiers' cheques.
(Reporting by Giuseppe Fonte) ($1=.8080 Euro) Keywords: ITALY BUDGET/EVASION
http://www.xe.com/news/2010-05-24%2012:48:00.0/1166473.htm?c=1&t=
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