New Cash Control Rules at Border and KAS Changes
The law introduces changes to the operation of the National Revenue Administration (KAS), adding new tasks related to controlling the import of raw materials from conflict zones and controlling cash transported across European Union borders. Rules for declaring cash when entering and leaving the EU are changing, introducing stricter penalties for violations.
Key points
You must declare larger amounts of cash when crossing the European Union border.
Failure to declare cash or providing false information may result in higher financial penalties, up to 720 daily rates of fine.
The National Revenue Administration will control companies importing tin, tantalum, tungsten, and gold from conflict-affected areas.
Changes in foreign exchange regulations may result in penalties even for unintentional errors in reporting certain transactions.
95%
VOTING RESULTS
2024-05-09
For
419
Against
2
Abstain
19
Status:
Enacted
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