Late payments

Entrepreneurs are feeling the effects of recent difficult years, which often are a  real challenge to their financial stability. Factors such as persistently high inflation, higher and changing business costs and an uncertain economic climate have made it more difficult to do business leading to a marked jump in late payments.

The issue of late payments primarily affects companies in the construction, trade, transport or industry sectors, but also companies in almost every other sector of the economy, and it does not look as if it will stabilise in the near future.

As payment arrears give rise not only to business consequences, but also to a number of tax and reporting implications and the risk of high penalties from the OCCP (Office of Competition and Consumer Protection) , it is necessary to know the obligations and legal options on both the creditor and debtor side that can be helpful in this situation.

MDDP will provide you with comprehensive support in managing the consequences of late payment, combining the experience of legal, tax experts in the areas of CIT, VAT, transfer pricing and accounting and management reporting.