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LATEST: Italy proposes doubling cash payment limit to €10,000

Premium December 11, 2025

Italy's Prime Minister Giorgia Meloni looks on during the swearing-in ceremony at the Quirinale Presidential Palace, in Rome, Italy October 22, 2022. REUTERS/Guglielmo Mangiapane/File Photo

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By PAUL O’DONOGHUE, Senior Correspondent

ITALIAN Prime Minister Giorgia Meloni’s party has moved to double Italy’s cash-payment limit to €10,000, despite criticism that the plan encourages tax evasion.

Brothers of Italy lawmakers have submitted a draft budget amendment that must pass by December 31. It would allow cash payments of up to €10,000. Anyone paying more than €5,000 in cash would add a €500 “special stamp duty”.

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NEWS: FATF Ministerial Declaration focuses on fraud and risk-based approach

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NEWS: UK banks seek access to Anthropic’s Mythos AI

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NEWS: HSBC and Standard Chartered accused of links to Iran financial crime activity

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