The Banco de Portugal wants companies and shops to accept at least one form of electronic payment in addition to cash. With cash increasingly in decline, the covid-19 pandemic has only accelerated the digitalization of transactions, thereby increasing online consumption and the use of contactless payments.
Tax and Customs Authority (AT) will gain access to data regarding cash withdrawals exceeding €50,000. The measure is part of a Strategic Plan to combat fraud and tax evasion that sets priorities until 2020. The document identifies three strategic lines of intervention that will be implemented through 95 measures in legislative, criminal and operational actions.