According to the current state of the law in Poland, the limit of cash payments for entrepreneurs is 15 thousand PLN. gross. This limit applies to transactions in which another entrepreneur is a party. Transactions that exceed 15 thousand PLN should be settled using a payment account. This obligation stems from Article 19 of the Polish Business activity Act of March 6, 2018.
“Making or receiving payments related to the business activity shall be made through the payment account of the entrepreneur, whenever:
A payment account is understood to mean a bank account, SKOK (operative Savings and Credit Fund), card payment or through online platforms. In turn, one-time transaction value means the entire value of a claim or liability, expressed in money, which results from the delivery of goods or the provision of services for consideration between businessmen.
Companies transacting with each other are required to comply with the cash payment limit.
The cash payment limit does not apply to:
Beginning in 2024 the cash payment limit in Poland will decrease from PLN 15,000 to PLN 8,000. The change was supposed to take place as early as 2023, but the final deadline was extended by a year. According to the Finance Minister, cashless payments are a necessary part of the modern digital economy in order to combat the shadow economy, including in countering so-called money laundering.
If the entrepreneur does not fulfill the obligation to make non-cash payments- he will not be entitled to include the incurred expense as a deductible expense.
Beginning in 2024, a cash payment limit for consumers will also take effect.. Until now, there were no restrictions on such transactions, being in any store we could pay cash for purchases made. Starting in 2024, the limit will be 20 thousand PLN. The change was originally scheduled to take effect from 2023, but was also postponed for another year.
Author: Agnieszka Bojar, Manager of the Accounting area at MDDP Outsourcing.