Accounting, Payroll, Tax & Legal since 1989

Overdue invoices

It is worth to mention the amendments to the acts on PIT and CIT, which remove the obligation to "delete overdue invoices."

In accordance with the preceding provisions if the amount on the invoice or other document has not been paid within 30 days of the date of full payment, there was an obligation to make adjustments to the cost of revenues. When the payment term was longer than 60 days it has to be settlement within 90 days of credit that amount to the deductible.

This provision was supposed to improve the financial situation of businesses by discouraging buyers to pay late. As we can see, it did not bring the expected effect – at least in the time it was given.



11.01.15


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