Greece Is Not India? Hellenic Banks Plan ‘Tax On Cash Withdrawals’ To Combat Black Economy

‘Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals.
Bankers reportedly stress that cash money can easily and largely be channeled in the black economy. Therefore, a tax on cash withdrawals will drastically reduce cash transactions and by extension the black economy.
The bankers suggest that also credit and debit cards as wells as new technologies enabling cash-less transactions even for small amounts and mobile phones can be used for the purchase of a transport ticket or a newspaper at the kiosk.’
Read more: Greece Is Not India? Hellenic Banks Plan ‘Tax On Cash Withdrawals’ To Combat Black Economy