As the NBU reduced the amount of cash payments up to 50 thousands will change the lives of Ukrainians: expert opinions

The decision of the national Bank to decrease the maximum amount of cash payments 3 times from UAH 150 thousand to UAH 50 thousand today took effect.

Now Ukrainians will be able to pay for the purchases more than 50 thousand UAH only cashless – through a Bank or Finance company, and making or transferring of funds to the current account (including the notary Deposit in a separate current account in UAH) notes “UBR”.

In NBU believe that the new restrictions will not cause inconvenience to the citizens and will not affect their daily shopping.

“Those who spend 50 thousand UAH in the supermarket during one visit will be worthy of inclusion in the Guinness book of records of Ukraine”, – joked the Director of the Ukrainian Association of trade networks suppliers Oleksiy Doroshenko.

The expert notes that the restrictions will apply only to major purchases (real estate, jewelry, vehicles, art objects, furs, luxury watches, travel, etc.).

Financial expert Vasyl nevmerzhytskiy believes that the average official salary in Kiev in the amount of 7 thousand UAH for ordinary family of three have 14-15 thousand UAH per month.

“If you subtract mandatory spending on utilities, food, transportation and things like that, you get a very small amount that can be spent on expensive purchases. Consequently, the amount of such purchases will be”, says nevmerzhytskiy.

According to experts, purchases over a certain limit can be done in installments or on credit. You can split up the amount, knocking a few purchases for separate checks instead of one common. Or take a loan from a Bank to Bank transfer to pay for the purchase, and then to extinguish the loan cash in installments.

“Diamonds, apartments, cars do not buy so often. For example, used cars are subject to this restriction. Over 50 thousand UAH to buy is that the body, not the car. The result will wikidata entire cash circulation”, – said Vasyl nevmerzhytskiy.

But even crushed by the payments will still be recorded using cash registers or otherwise. Alexey Doroshenko said that for several months the various bodies of financial control are monitored all the amount of 50 thousand UAH.

“We just do not notify about this,” says the expert.

Therefore harder to completely hide the amount of cash payments. According to him, everything goes to the fact that to hide their real income would be nearly impossible.

“Through notaries is the identification of the buyer when buying real estate, corporate rights, cars, etc. On clothing, people will not spend 90% of their budget. A major purchase sooner or later somewhere will come out anyway. And you can understand that people spend disproportionately to your income,” says Doroshenko.

Vasyl nevmerzhytskiy believes that the limitation of cash payments will facilitate the transfer of cash flows in the banking system and financial companies. This will be able to accumulate information about expensive purchases Ukrainians, as for making a payment you will need your passport and identification code.

The information will be used by the fiscal service and the financial monitoring bodies as a source of data for comparison of expenditures and incomes, as well as to identify sources of funds.

Thus is created the basis for introduction of General declaring of a property status, which will allow to consider all the savings made since 1991, when the population began to convert their savings into hard currency.

The enterprises decrease the possibility of receiving cash without issuing a receipt.

There is only the question of how effectively the tax authorities will monitor the turnover of retail outlets. For example, it is necessary to introduce the widespread use of cash registers.

“We need to make to apply to all and no exceptions. Then the withdrawal speed will profit the banks and more taxes,” – says nevmerzhytskiy.

In turn, Alexey Doroshenko predicts that over time, the limits of calculations can be reduced again as soon as the control service will handle the processing of such data.

“Otherwise it makes no sense to impose restrictions”, – said the expert.

We will remind, the norm about restriction of the maximum amount of cash settlements with participation of physical persons from 150 thousand to 50 thousand UAH are contained in the resolution of Board of National Bank of Ukraine from 25.11.2016 No. 407 “About modification of the resolution of Board of National Bank of Ukraine from June 6, 2013 № 210 “On establishing the maximum amount of cash settlements”.