Limits on Cash Payments Reduced to CZK 270,000

With effect from 1 December 2014, the limit on cash payments is reduced to CZK 270,000 per day as stipulated in the amendment to Act No. 254/2004 Sb., governing the cash payment limits. At the same time, given by the judgment of the Czech Supreme Court of 2011, the obligation further newly applies also to originating legal relationships (e.g. a loan or donation). Previously, the obligation applied only to payments made to settle the (already existing) debts.