Taxation and Customs Union

What is cash to be declared?

Cash is not only currency. Other items are also considered cash.
 

In the 'Cash-control Regulation' (see Article 2 of Regulation (EC) No 1889/2005 cash is defined as:

  • Bearer-negotiable instruments, including monetary instruments in bearer form such as travellers cheques.
  • Negotiable instruments (including cheques, promissory notes and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon delivery.
  • Incomplete instruments (including cheques, promissory notes and money orders) signed, but with the payee's name omitted.

Currency (banknotes and coins)

  • Banknotes and coins, no matter what material they are made from, that are in circulation as a medium of exchange are included in the definition of cash.
  • Currency that is no longer in circulation as means of payment is not considered cash.
  • Antique coins (collection coins) and bullion coins are not included either.
  • Banknotes and coins which are not freely convertible, such as Morocco's dirham or the Indian Rupee are included in the definition of cash.

Gold, precious metals and precious stones are not cash

Gold, precious metals and precious stones are not covered by the cash control Regulation. These items are covered under customs laws and may be specifically targeted in national legislation.

Casino chips are not cash

Casino chips (also known as casino tokens), that serve as monetary instruments in casinos, are not included in the definition of cash.