Do you have large companies among your customers? The legal payment term for such companies to pay their SME suppliers has been reduced to 30 days.
Previously, large companies could apply a 60-day period as a maximum payment term for their SME clients. The government had to pay within 30 days. This term has also been applied to large companies.
An enterprise is considered a large company if it meets at least 2 of the following 3 points:
- the company has a balance sheet total (total assets) of more than €20 million
- the company has a net turnover of more than €40 million
- the company has 250 employees or more
This concerns the legal entity with which you do business. In other words, the private limited company (bv), public limited company (nv), or cooperative stated on the invoice.
- SMEs that supply goods or services to large companies
- large companies doing business with SMEs
This change in Book 6 of the Dutch Civil Code (Burgerlijk Wetboek) has come into force on 1 July 2022.