By Giuseppe Fonte
A deficit cutting package due to be approved by Italy on Tuesday will ban cash transactions for more than 5,000 euros ($6,188) in an effort to crack down on tax evasion, a government source said on Monday.
Reducing the ceiling on cash transactions, which currently stands at 12,500 euros, forms part of the package of public sector hiring and wage reductions and spending cutbacks being prepared by Economy Minister Giulio Tremonti, the source said.
Continue reading Italy to Ban Cash Transactions Over 5,000 Euros
