Payment delays in commercial transactions

The latest regulations require entrepreneurs to submit a “Report on payment terms in commercial transactions applied by entities in the previous calendar year” to the Ministry of Economic Development, Labour and Technology by January 31 each year. However, not all taxpayers have been obliged to submit the statement.

The statement must be submitted by:

• tax capital groups, regardless of the amount of revenue earned;
• taxpayers other than tax capital groups, whose revenues in the previous tax year exceeded the equivalent of EUR 50 million.

The report is submitted electronically using a special form posted on the Ministry’s website. It contains the following information:

✓ company name and TIN;

✓ value of funds received in the preceding calendar year within 30 days, 31 to 60 days, 61 to 120 days, more than 120 days (the deadline is calculated from the date of issue of the accounting document confirming the delivery or service provision);

✓ the value of funds not received in the previous calendar year by the contractual deadline and the percentage of these benefits in the total value of cash benefits due;

✓ the value of funds not received in the previous calendar year by the contractual deadline and the percentage of these benefits in the total value of cash benefits due that the contractor is obligated to meet.

The Ministry states that “guaranteeing disclosure of payment practices reduces the propensity for reprehensible behavior and allows to reduce the risk of entering into business relations with partners using excessively extended payment terms. Publishing data on payment practices creates an opportunity for the largest entrepreneurs to present themselves as reliable contractors”.

SAP has prepared a report that analyzes the system’s data and presents it in a layout compliant with the legislator’s requirements. However, there are many uncertainties that make it necessary to adjust the operation to individual needs.