Fines to companies and directors for failure to meet payment deadlines
Source: Tanjug
Monday, 17.08.2015.
13:53
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(Photo: Africa Studio/shutterstock.com)
Representatives of the economy sector remind that the Law on Deadlines for Reconciliation of Financial Obligations in Commercial Transactions, which was adopted 2012, prescribed payment deadlines of up to 45 days for the public sector and up to 60 days for the private sector, but the deadlines mainly exceeded 120 days in practice.
As experts claim, the chain of non-payment will be interrupted in this attempt becuse new amendments will introduce stricter penalties for failure to respect the deadlines, but also because Serbia is obligated to maintain financial discipline in agreement with the International Monetary Fund (IMF).
By the way, amendments to the Law are taking effect on the eighth day of their announcement date in the Official Gazette.
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Law on Deadlines for Reconciliation of Financial Obligations in Commercial Transactions
budget inspection
Vladimir Krulj
Dragoljub Rajic
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