The attention of the Maltese business community is drawn to the legal interest rate applicable with respect to late payment in commercial transactions, which with effect from the 1st July 2025 shall be of 10.15%.
This is in line with the provisions of Directive 2011/7/EU of the European Parliament and of the Council of 16th February 2011 on combating late payment in commercial transactions, commonly referred to as the Late Payment Directive, and which had been transposed in the Commercial Code (Chapter 13 of the Laws of Malta) in 2012.
The Late Payment Directive is aimed at combatting late payments in commercial transactions to protect businesses in general, especially small and medium-sized enterprises.
Phoenix Wise Solutions offers credit control and debt recovery services and is at the service of businesses and entrepreneurs that are facing difficulties and delays in recovering dues from their customers.
Phoenix Wise Solutions is an active member of the Malta Association of Credit Management.
Gabriella Gauci
Finance
