The new law on the creation and growth of companies, known as ‘Law Create and Grow‘, was approved by the Congress of Deputies on September 15 and published in the BOE on the 29th of the same month. Its objective is to create measures to fight against business delinquencies, facilitate the creation of companies and reduce regulatory and financial obstacles.
Within the battery of measures that it contemplates, such as the creation of companies at one euro or the incentives and guarantees to prevent delinquency, it is also necessary to highlight the fines and penalties that it imposes on entities or persons that fail to comply with its regulations.
Penalties of up to 50% of the amount
Regardless of whether they are included in the specifications or not, sanctions of up to 50% of the amount of the contract will be applied when there is a firm resolution. When requesting a subsidy, it will be required to prove that all eligible expenses are paid on time.
Other incentives go through a delinquency blacklist -companies will enter with 600,000 euros and 10% of your invoices after the deadline-, the obligation to disclose on its website and annual accounts report the total and relative volume of invoices paid after the deadline and the prohibition of forcing a company to use a specific electronic invoicing platform.
Undoubtedly, a coercive measure such as the creation of this blacklist can be a determining factor in trying to reduce delinquency and excessive delays in paying invoices in a high percentage of organizations, both SMEs and larger ones, that exist in our country.
And it is also that this new regulation aims to require companies to be accredited that all eligible expenses of its commercial operations are paid on time. In other words, it is about preventing one company from forcing another to use a platform of its own interest to invoice electronically, or that the date of receipt of the invoice cannot be understood as the start date of the payment term, except in cases that the law indicates, to avoid distortions in terms.
Delinquent companies cannot access grants of more than 30,000 euros
According to the opinion approved by Congress last month, businesses that want to access subsidies for an amount greater than 30,000 euros «they will not be able to obtain the condition of beneficiary or collaborating entity» Yes “they do not comply with the payment terms provided for in the aforementioned law”, that is, a maximum of 60 days for business-to-business transactions.
10,000 euros if they do not incorporate the electronic invoice in two years
With the approval of this measure and from the moment it was published in the BOE, SMEs have a 24 month term to incorporate the digital invoice to their businesses before they can receive fines of up to 10,000 euros if they do not have these systems, according to Aseryde.
It must be taken into account that in a first phase, companies and freelancers with an annual turnover of more than eight million euros will have the obligation to apply this measure within one year from the moment the regulatory development is presented. In a second phase, the rest of the companies and freelancers, that is, with less than eight million euros of annual turnover, will have the obligation to apply this measure within two years, as Generix points out.
