![\"Greek](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/greek-parliament-credit-flickr-amaury-laporte-cc-by-4.jpg\")
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Greece<\/a> is preparing stricter cash payment rules under a new tax bill, with electronic payments required for transactions of \u20ac500 or more and doubled fines for violations. Credit: Flickr \/ Amaury Laporte<\/a> \/ CC BY 4<\/p>\n Greece is preparing to tighten cash payment rules as part of a wider effort to increase financial transparency and combat tax evasion. The proposed measures appear in a new multi-bill submitted by the Greek Ministry of National Economy and Finance, and they introduce a stricter framework for cash payments.<\/p>\n Under the bill, taxpayers and businesses must complete any transaction worth \u20ac500 ($587) or more electronically. Importantly, authorities will calculate the threshold based on the total value of the transaction, rather than on individual receipts or partial payments.<\/p>\n As a result, the measure aims to close loopholes that previously allowed transactions to be split into smaller amounts to bypass existing cash restrictions.<\/p>\n Greece introduces double fines for cash payment violations<\/p>\n The legislation also introduces tougher penalties for those who fail to comply with the cash payment limit.<\/p>\n Under the new rules, authorities will impose a fine equal to twice the amount paid in cash. In practice, offenders would face a financial penalty that doubles the value of the unlawful cash payment.<\/a><\/p>\n Therefore, the government expects the measure to act as a strong deterrent and encourage broader use of electronic payment methods across the economy.<\/p>\n Additional tax measures in Greece\u2019s new bill<\/p>\n The bill also goes beyond cash payment restrictions and includes several other tax-related provisions.<\/p>\n For example, it reduces penalties for the late submission of zero or credit VAT (Value Added Tax)<\/a> returns, offering relief to taxpayers in specific cases.<\/p>\n Meanwhile, authorities are expected to tighten oversight of cryptocurrency<\/a> transactions, reflecting the government\u2019s growing focus on digital financial activity and emerging forms of value transfer.<\/p>\n Cash payment rules support broader transparency push<\/p>\n Overall, the reforms aim to strengthen tax compliance and improve financial transparency.<\/p>\n By limiting the use of cash and expanding monitoring mechanisms, Greek authorities aim to reduce undeclared income and modernize transaction practices for both businesses and consumers.<\/p>\n