NIS 106 million in fines for violating the use of the Cash Law

The tax authority has released information regarding the sanctions imposed for violations of the law to reduce the use of cash

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Pursuant to section 18 of the Law to Reduce the Use of Cash, the Tax Authority publishes on its website details of the financial sanctions imposed on dealers for violations of this Law. In the application uploaded today (Wednesday) to the site you can see certain details regarding each sanction imposed, such as the date of violation and imposition of the sanction, the industry to which the business to which the sanction was imposed, and the area in the country where it operates. It is also possible to obtain information about the total scope of the sanctions imposed since the application of the law, by industry and type of violation. A total of 674 sanctions totaling NIS 106 million have been imposed since the application of the law.

The data show that the industry in which most of the sanctions have been imposed so far is the wholesale and retail trade industry (177 levies totaling NIS 19.5 million). Other notable industries are wholesale and retail trade in vehicles and their repair (40 levies totaling NIS 13.5 million), the advertising and market research industry (11 levies totaling NIS 10 million), personal services and other industries (60 levies totaling NIS 13 million). NIS 60 million) Construction industry (135 sanctions totaling NIS 606,000) and accounting and legal services (60 levies totaling NIS 621,000).

Segmenting the data by types of violations, it can be seen that 289 sanctions, in the total amount of NIS 104 million, were imposed for the violations as part of cash transactions. The law restricts the use of cash in transactions higher than NIS 11,000. 174 sanctions, in the total amount of about NIS 891,000, were imposed for prohibited use of the check. According to the law, the use of a check that does not include the name of the beneficiary is prohibited, and in converting the check, it is mandatory to provide details about the bearer and the bearer. 212 sanctions, totaling about NIS 1.6 million, were imposed on dealers who did not document the means of payment in the transaction. By law, a dealer is required to document the means of payment in which he paid or received a receipt.

According to the law, the sanction rate is determined according to the extent of the violation (the amount specified in the check or the difference between the actual cash payment and the payment ceiling allowed by law). Up to the amount of a violation of NIS 25,000, a sanction of 15% of the scope of the violation is imposed, between NIS 25,000 and NIS 50,000, a sanction of 20% of the scope of the violation is imposed, and above NIS 50,000, a sanction of 30% of the scope of the violation.

More Noam Koris Holds a master’s degree in law from Bar Ilan University, office Noam Koris Adv. Co. has been engaged in legal representation and class actions since 2004.

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