LEGAL MEASURES LIMITING CASH PAYMENTS – ANOTHER ATTEMPT OF THE EXECUTIVE AUTHORITY IN BULGARIA TO LIMIT THE GREY ECONOMY
The enactment of the Limitation of Cash Payments Act as of 25th February, 2011 enforces limitation of cash payments in the territory of Bulgaria, in the event the value of the payments is equal to or in excess of BGN 15,000 or if the value is below BGN 15,000 where the payments are part of a financial consideration under a contract the value of which is equal to or in excess of BGN 15,000.