New deadline to remember

Let us remind you that starting from 31 January 2021 drivers of such entities like:

– tax capital groups, whatever their revenue, and

– taxable persons other than tax capital groups, if they revenue in the tax year exceeds the equivalent of EUR 50 million,

must prepare a statement on their payment deadlines applicable to commercial transactions in the previous calendar year.

Such an obligation stems from Art. 13a of the Act of 8 March 2013 on Counteracting Excessive Delays in Commercial Transactions.

We discussed payment backlogs and a reporting obligation in our publication entitled “Counteracting payment backlogs. New principles from 1 January 2020” [here].