Introduction of cap on cash payments in Lithuania postponed - daily

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With discussions on imposing a cap on cash payments in Lithuania going on for years, politicians now say that a law setting the limit at 3,000 euros may be passed this year and come into effect next year, the business daily Verslo Žinios reported on Tuesday.

"Perhaps it is not so urgent to adopt that law right now. We may have more discussions about it, especially because it still raises many questions," it quoted Stasys Jakeliūnas, chairman of the parliament's Committee on Budget and Finance, as saying.

"In the run-up to the (parliament's) spring session, the Committee on Budget and Finance will hold a formal debate on the bill, which will then go to the plenary," he said.

Jakeliūnas expects the Seimas to adopt the bill during its upcoming spring session.

According to him, it appears from discussions held at the Seimas that lawmakers agree in principle to the government's proposal, tabled last June, to limit cash payments to 3,000 euros.

Source: BNS
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