The general provisions of the aforementioned law establish that the operations of receipts and payments made by legal persons, freelancers, individual companies, family businesses, freelancers, individuals who operate independently, associations and other entities with or without legal personality from / to any of these categories, will be achieved only through cashless payment instruments.
As an exception, receipts and cash payments may be made only under the following conditions:
a) revenues from the persons mentioned above, subject to a daily limit of 5,000 lei from one person;
b) collections made by cash and carry stores, which are organized and operate under the law in force, from the above-mentioned persons, subject to a daily limit of 10,000 lei from one person;
c) payments to the above-mentioned persons, subject to a daily limit of 5,000 lei / person, but no more than a total limit of 10,000 lei / day;
d) payments to cash and carry stores, which are organized and operate under the law in force, in a maximum daily total limit of 10,000 lei;
e) payments in advance for expenses account, subject to a daily limit of 5,000 lei, fixed for each person who received advances for expenses.
Under the provisions of the law, are set the following prohibitions:
1. There are forbidden fragmented cash receipts from customers for bills whose value exceeds 5,000 lei and respectively 10.000 lei, for cash and carry stores, as well as fragmentation of the invoices for supply of goods or provision of services, whose value is higher than 5.000 lei, respectively 10.000 lei.
2. There are forbidden fragmented cash payments to suppliers of goods and services for invoices whose value exceeds 5,000 lei and respectively 10,000 lei, to cash and carry stores. The persons above – mentioned can pay the invoices with values that exceed the limit of 5,000 lei, to suppliers of goods and services, respectively 10,000 lei, to cash and carry stores, as follows: 5,000 lei / 10,000 lei in cash, and the amount that exceeds this limit can be paid only by non-cash payment instruments.
3. The operations of cash receipts, representing assignment of receivables, loans or other financing reception, as well as the equivalent of delivery of goods or of rendering of services, is performed under the daily limit of 10,000 lei from one person.
However, the law provides exemptions from the limits set forth, for the following operations:
a) cash deposits in accounts opened at credit institutions or at the institutions providing payment services which are authorized by the National Bank of Romania, including in the vending cash receipts;
b) payment of travel expenses for a business, in the limit for payment of the transportation, daily allowance and accommodation during the travel, as well as unforeseen expenses incurred in this regard;
c) cash payment of taxes, contributions, fines and other obligations owed to the general consolidated state budget;
d) cash withdrawals from accounts opened at credit institutions or institutions providing payment services which are authorized by the National Bank of Romania, for payment of salaries and other personnel right required by law and for other payment operations carried out by individuals;
e) transferring of money through institutions which provide payment services authorized by the National Bank of Romania or authorized in another Member State of the European Union and notified to the National Bank of Romania, according to the law;
f) cash deposit in machines which function based on acceptance of banknotes or coins.
The fines for sanctioning the non-compliance with this law are between 10% of the amount received / paid that exceeds the limit fixed by the law for each type of transaction, but not less than 100 lei, or amounts between 3,000 lei and 4,500 lei.
These provisions, mentioned in Chapter 1 of the Law, are going to enter in force starting with 30 days from publishing in the Official Gazette.