Large companies now have 30 days to pay MKB bills

From July 1, 2022, the maximum allowable deadlines in which large companies must pay invoices from small and medium-sized businesses (kleine en middelgrote bedrijven - MKB), are halved. If earlier they were 60 days, now they are only 30 days.

Due date

When concluding a contract for the supply, contract, provision of services, and so on, the parties agree on:

1. the cost of goods/services/works - a specific amount;
2. payment period.

In addition to the contract, the terms of payment are indicated in the invoice. The payment term is the period during which the entire amount (the cost of goods, services or works) must be paid. In the Netherlands, the maximum allowable payment term is 60 days for businesses and 30 days for the public sector.

What is changing?

From July 1, 2022, an amendment to Book 6 of the Dutch Civil Code will come into force, according to which for large companies the payment period for invoices from MKB suppliers is reduced to 30 days.

The concept of "large company"

A company is considered large if it meets at least two of the three criteria:

1. the total amount of the balance sheet is more than 20 million euros;
2. net working capital - more than 40 million euros;
3. the number of employees in the state is 250 or more.

Who is the innovation for?

To take into account the change in payment terms should:

1. directly large companies;
2. small and medium business entrepreneurs who provide goods or services to large companies;
3. freelancers who are hired by large companies.

For MKB entrepreneurs and freelancers, this legislative innovation provides an opportunity to receive their earned money faster. Funds will flow back into the business faster instead of getting stuck in unpaid bills.

We remind you: if you suddenly have any difficulties with issuing invoices to your customers, please contact us! Nalog.nl specialists will be able to quickly create invoice page, and you will add customers and products there without restrictions.