The law of 2 August 2002 on combating late payment in commercial transactions is an important tool against late payers. However, practice has shown that the current provisions are not strict enough to tackle the increasing problem of late payment. For that reason, the legislator has taken action with the Law of 14 August 2021 which will further tighten the Law on Combating Late Payment in Commercial Transactions from 1st February 2022.[1]
This article is available in Dutch and French.
[1] For a more in-depth discussion please refer to the article of Geert De Buyzer and Emilie Bogaerts in the December 2021 issue of ITAA-zine: ITAA-zine - Institute for Tax Advisors and Accountants