As in previous years, also in 2015 the limit of cash payments was lowered. From January 1, 2015, we can pay invoices up to CZK 270,000 in cash (in 2014, it was CZK 350,000). Below we quote an excerpt from the Tax and Fees Act.
(1) The payer paying for the liability exceeding 270,000 CZK (hereinafter referred to as the"limit") is obliged to make the payment by bank transfer.
(2) Recipient of the payment that exceeds the limit , cannot accept this payment if it has not been made by bank transfer.
(3) A foreign currency payment for the purposes of this Act will be converted according to the Czech koruna exchange rate announced by the Czech National Bank and in force on the date of payment. < br /> (4) As before, the limit applies to all transactions between the same entities on a given calendar day.