Italian Prime Minister Giorgia Meloni’s party has been accused by critics of promoting tax evasion with its plan to double the legal limit for cash payments to €10,000.
In a draft amendment to next year’s budget — which must be approved by December 31 — lawmakers from Meloni’s Brothers of Italy have called for legalising cash transactions of up to €10,000, provided that a flat €500 “special stamp duty” is paid on any cash amount over €5,000.
Brothers of Italy lawmakers say their proposal will enable greater spending on luxury goods by foreign tourists — who sometimes arrive in Italy with large amounts of cash — and help black money return into circulation in the legal economy.
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