Statutory interest: Difference between revisions
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Revision as of 08:42, 2 February 2022
Late payment - European Union (EU) - small & medium-sized enterprises - tax.
Statutory interest is interest imposed and calculated in accordance with a written law (statute).
Its purposes are generally to discourage late payments, or to compensate in cases of late payments that have occurred.
Examples include late commercial payments, and late payments of tax to a tax authority.