Month: January 2024

Interest on Late Payments in Commercial Transactions Increases by 0.5% to 12.5% as of 1st January 2024

The European Union has recognised that late payments in commercial transactions negatively affect the entire European economy, as each year, across Europe, thousands of businesses go bankrupt waiting for their invoices to be paid. With the objective of protecting European businesses, particularly SMEs, against late payment, the EU adopted Directive 2011/7/EU of the European Parliament […]
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