A few years ago, the state passed new laws to limit the use of cash as the global trend is towards preventing money laundering and tax evasion Cash is no longer king.
Well, now cash isn’t even a prince anymore.
According to GlobesThe finance minister Yaakov Katz has decided to further restrict cash transactions and significantly lower the limits!
According to the new limits, companies can process cash transactions with a limit of 6000nis of 11,000nis. Individuals can handle cash up to 15,000 instead of 50,000.
Katz’s decision has yet to be approved by the Finance Committee. We’ll see what happens, but plan accordingly.
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