Cash Transaction Tax (CTT)

Tax Glossary Definition

Cash Transaction Tax (CTT)

Cash Transaction Tax (CTT) – Cash Transaction Tax (CTT) refers to a charge levied on specified high-value cash payments that go beyond regulatory thresholds. The intent of this tax is to reduce the use of cash in large transactions, minimize the generation of unaccounted income, and promote the adoption of digital and traceable payment systems.

Example: If an individual makes a cash purchase exceeding the permitted limit, a Cash Transaction Tax may be levied to ensure transparency and reduce cash-based dealings.

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