Cash transaction limit in 2024 – how much is it?

Business-to-business cash transactions have been subject to certain restrictions for years, with further limits being introduced gradually. A further reduction in the maximum amount is ahead, but this change will not come into effect until the beginning of 2024. What’s more, business-to-consumer transactions, which until now had no set limit, will also start to be restricted.
Table of contents:

What is the cash transaction limit?


Example:

And where to find the current regulations in force? The cash payment limit is regulated by the Law of March 6, 2018. Business Law. Art. 19 of the document specifies that make and receive payments in connection with business activities should be made through the payment account of the entrepreneur when two criteria are met.

First: another trader is a party to the transaction.

Second: the one-time value of the transaction exceeds PLN 15,000.

If the transaction is made in foreign currencies, a conversion rate in accordance with the average exchange rate of the relevant currency announced by the National Bank of Poland on the last business day that preceded the day of the transaction shall be applied.

What is the penalty for exceeding the cash transaction limit?


Important!

What cash transaction regulations are in effect now?


Important!

Will there be another reduction in the limit?


Important!

Despite the amendment, there is still an obligation under which businesses are required to ensure that they can pay using a payment instrument within the meaning of the Law of dn. August 19, 2011. On payment services in any place where the activity is actually carried out. The change is described in detail in Art. 19a in the Law of March 6, 2018. – Business Law.

It is worth mentioning that this provision does not apply to entrepreneurs who do not keep records of sales using cash registers.

How to comply with the new regulations? Examples


Example 1 – B2B cash transaction in 2022 and 2023.

Example 3 – B2C cashless transaction in 2024.

Mr. Michal orders finishing materials from a wholesaler. The list of items purchased includes wall and floor tiles, panels, as well as paint, painting tools and protective clothing. The total value of the purchases is PLN 35,000. In this situation, Mr. Michael would like to pay PLN 15,000 in cash, and pay the rest of the amount by wire transfer. Can he do that?

The answer is no. However, if he nevertheless decides to resolve the matter this way, he will not be able to recognize the expenses related to this transaction as a deductible expense, which will noticeably affect the amount of income tax to be paid.

Example 3 – B2C non-cash transaction

Summary


The changes described – the retreat from tightening the limit on cash payments, the complete abandonment of the introduction of restrictions on transactions with individuals – show that positive changes in the law are possible. Businesses, but also consumers, value the ability to make payments in the way that suits them at the time – even if your business doesn’t make cash payments very often today, they may become more convenient in the future.

The authors of the bill to amend the law, by the way, gave several arguments justifying the withdrawal of the amendments passed earlier. One was that small businesses often prefer to receive payment on the spot, and this is an important part of building trust between contractors.

In 2024, but also in the following years, we remain at the limit of PLN 15,000 for business-to-business cash transactions, and it will be a long time before anyone decides to return to this topic.

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