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The proposal is supported by the Danish Chamber of Commerce which agrees that it is time to give shops the option to go cash-free.
“Society has changed so much that there is no longer a need for requirements on cash payments. Plus, cash has become tremendously expensive to handle due to security reasons,” chamber spokesman Henrik Hytolft was quoted as saying by The Local.
The government’s move is not likely to meet opposition in Denmark, where cash payments have become less popular than those made by mobile phone or credit card.
Almost 1.8 million people in Denmark’s 5.6 million population use MobilePay, a smartphone application, to transfer money to other phones and shops. Sweden, Denmark and Finland lead the European Union in credit card payments per person.
Stores in Denmark can begin rejecting cash on January 1, 2016, if the government proposal is approved.
originally posted by: DYepes
a reply to: NoFearsEqualsFreeMan
man tax cash?? Thats some ironic ish since paying in cash in many businesses is traditionally a way of avoiding paying tax. Most thrift and flea market vendors will not collect the tax if paid in cash since they do not have to record the transaction. all a business has to do to not be taxed for paying cash is not record the transaction. Thats why I always tip in a restaurant or barber with cash.
What would this do to the service industry?? Now on top of meager hourly wages as a waiter/waitress, you would have to pay taxes on all your tips if your job refuses cash. Noone is getting rich on tip money except strippers, so I find it may be an unfortunate inevitability for the service industry in a few years.
Businesses Must Accept “Dollars,” but Not Cash
This means that US notes and coins are a valid and legal offer of payment for debts when tendered to a creditor. However, although businesses must accept dollars, that doesn’t mean they literally have to take your big wad of bill,s which is bulky, difficult to make change for, and, frankly, a breeding ground for germs. A vendor can usually put reasonable conditions on the manner in which they will accept dollars, and one of those conditions can be that they’ll only accept dollars electronically, via credit card. Or, as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”
So far, Legal Lad has yet to find a state law that mandates payment in cash. In fact, as we discussed in our earlier episodes, courts in a number of states have dismissed challenges to various no-cash policies.
- See more at: www.quickanddirtytips.com...
originally posted by: grainofsand
a reply to: DYepes
...it is why I am surprised the OP speaks of 'allowing' stores to refuse cash. I can do that right now in the UK.
Maybe Denmark is more controlled than I had previously thought.
originally posted by: DYepes
a reply to: LadyGreenEyes
yea those forfeiture laws are a total load of crap, and basically a modern version of mideaval bandits robbing you at a checkpoint, except backed by law.