Obligation to include relevant information on invoices and payments to suppliers in the annual report and on the corporate website
As we have already reported in several circulars, Law 18/2022, of 28 September, on the creation and growth of companies (Crea y Crece Law), implements a series of measures aimed at speeding up the creation of companies, improving the regulation for the development of economic activities, reducing commercial delinquency and facilitating access to financing.
In relation to the measures aimed at reducing commercial late payment, Law 18/2022 has amended the third additional provision of Law 15/2010, of 5 July, amending Law 3/2004, of 29 December, which establishes measures to combat late payment in commercial transactions.
The new provision establishes the following obligations with the aim of improving compliance with the Law on combating late payment in commercial transactions:
- All trading companies shall expressly include their average supplier payment period (already an existing obligation) in the notes to their annual accounts.
- Unlisted companies that do not present abridged annual accounts are required to publish in their annual report, in addition to the information on the average payment period to their suppliers (an existing obligation), the monetary volume and number of invoices paid in a period shorter than the maximum established in the regulations on late payment and the percentage they represent of the total number of invoices and of the total monetary payments to their suppliers. The obligation to include this information on the website is dependent on the aforementioned companies having such a website.
- Listed companies are required to publish in their annual report and on their corporate websites the same information as in point 2 above.
Since this provision has no specific date of entry into force, it would come into force 20 days after its publication in the BOE, i.e. on 19 October 2022.
For further information, please contact the Provision 15818 of BOE nº. 234 of 2022.
If you have any doubts about this subject, please do not hesitate to contact us, by telephone to Carles Monfort Codina or by e-mail to cmc@btsasociados.com, we will be delighted to help you.