11374 new law on cash

As of 1 Jan, any cash amount of more than 10.000 euros brought in or taken out of the country must be declared to the Customs. They can take up to 40% of any cash found on you that is undeclared as a punishment and on top of that a fine of between 300 euros and 40% of the sum 'smuggled'.

I suspect its designed to stop Russians buying houses in cash, but us estate agents now have a legal obligation to ascertain that large cash sums bought into the country are declared.

Category
Legal

Submitted by Anonymous (not verified) on Fri, 01/09/2009 - 14:25

Thanks for that Ram but we are broke!

What do you know about the supposed changes in the way IVA reduction is accounted for? Used to be able to claim up front on specified materials, 4% new build and 10 % houses to be restored? Someone on the Forum thinks things have change and that only those paying Italian Taxes can now claim?

Submitted by Anonymous (not verified) on Fri, 01/09/2009 - 14:33

I’m prepared to help anyone wanting to bring in more than €10,000. Just give the extra to me and I’ll bring it in for you, if it is more than €10.000, I am sure I can find some friends to help too.:laughs:

Submitted by Anonymous (not verified) on Fri, 01/09/2009 - 14:58

[quote=Nielo;107664]I’m prepared to help anyone wanting to bring in more than €10,000. Just give the extra to me and I’ll bring it in for you, if it is more than €10.000, I am sure I can find some friends to help too.:laughs:[/quote]

Ma dai -!!!!!!!!!

Submitted by Anonymous (not verified) on Fri, 01/23/2009 - 14:00

note also that payments over 12,500 need to go through a financial intermediary (i.e. be in the form of a cheque or bank transfer) or you can get stiffed for 40%...