1.  Please give details of any existing national legislation in your country that is specifically relevant regarding the obligations and limitations for LVMH shop assistants dealing with cash payments?
  2. Are there any changes or developments expected in the near future?
  3. Is there a maximum amount of cash a customer may use to purchase items in a store in your country? If yes, what is the amount?
  4.  Are there any limitations in your country with regard to the acceptance of denominations of [euro] banknotes?
  5.  Are there any rules in your country on partial and/or related cash payments and is it clear what can or will be seen as a partial and/or related payment?
  6.  Is there a duty to report to an authority if a customer would like to pay in cash above the maximum amount and/or with a denomination of a banknote which is forbidden?
  7.  What are the competent authorities which oversee the enforcement of the relevant legislation?
  8.  If there is a duty to report, what is the competent authority to report to and what are the relevant responsibilities of LVMH in that respect?
  9.  What sanctions do the authorities have at their disposal to make sure that companies comply with the rules?
  10.  Are there any other relevant developments or issues regarding this matter, of which LVMH should be aware (e.g. privacy issues)?

jurisdiction

Portugal
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1. Please give details of any existing national legislation in your country that is specifically relevant regarding the obligations and limitations for LVMH shop assistants dealing with cash payments?

The relevant legislation in Portugal is Law no. 92/2017 of 22 August 2017, which amended the Portuguese General Tax Law and the Portuguese General Taxation Infringements Law.

2. Are there any changes or developments expected in the near future?

No.

3. Is there a maximum amount of cash a customer may use to purchase items in a store in your country? If yes, what is the amount?

The maximum amount of cash that a customer may use in Portugal are the following:

  1. If the costumer is a natural person resident in Portuguese territory, the limit for paying with cash is EUR 3,000 (or its foreign currency equivalent);
  2. If the costumer is a natural person not resident in Portuguese territory and provided that he does not act as an entrepreneur or a trader, the limit for paying with cash is EUR 10,000 (or its foreign currency equivalent);
  3. If the costumer is a Corporate Income Tax taxpayer or a Personal Income Tax taxpayer who has or must have organised accounting, the limit for paying with cash is EUR 1,000 (or its foreign currency equivalent).

4. Are there any limitations in your country with regard to the acceptance of denominations of [euro] banknotes?

According to a European Central Bank decision, from 27 January 2019 the central banks of euro area countries have been withdrawing EUR 500 banknotes from circulation, and retaining these notes when they come into their possession. Notwithstanding, existing EUR 500 banknotes can be used without restrictions, including for making payments.

According to a European Central Bank decision, from 27 January 2019 the central banks of euro area countries have been withdrawing EUR 500 banknotes from circulation, and retaining these notes when they come into their possession. Notwithstanding, existing EUR 500 banknotes can be used without restrictions, including for making payments.

6. Is there a duty to report to an authority if a customer would like to pay in cash above the maximum amount and/or with a denomination of a banknote which is forbidden?

No. Apart from any ancillary reporting obligations, the only obligation established by the Law mentioned above is the prohibition on accepting cash payments above the maximum amounts referred to in 3. above.

7. What are the competent authorities which oversee the enforcement of the relevant legislation?

The Portuguese Tax Authorities are the competent authorities.

8. If there is a duty to report, what is the competent authority to report to and what are the relevant responsibilities of LVMH in that respect?

N/A

9. What sanctions do the authorities have at their disposal to make sure that companies comply with the rules?

Cash transactions that exceed the limits referred to in 3. above are punishable by an administrative fine ranging from EUR 180 to EUR 4,500.

10. Are there any other relevant developments or issues regarding this matter, of which LVMH should be aware (e.g. privacy issues)?

No.