Article:

DB | Latvia - Baltic champion in limiting cash transactions

25 February 2019

Law Firm’s BDO Law research shows that Latvia is the only country in the Baltics that has already introduced a limit on natural persons' cash transactions. The envisaged additional restrictions on the use of cash in sale and purchase of personal vehicles and property will make the country the leader in the whole EU in the fight against payments in cash. 

“If the country has no system in place to control the implementation of cash restrictions, then there is no point in reducing the ceiling or forbidding cash transactions as such because the restrictions will remain just on paper,” explains Arturs Surmovics, BDO Law Senior Associate. 

The full article in Daily Newspaper Dienas Bizness PDF (Latvian)

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