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News about pay period of Spanish Administrations

The Multisectoral Platform Delinquency, representing one million businesses and 4.5 million workers and freelancers, yesterday the alarm. Far from improving, commercial delinquencies continues to grow in Spain and not only in public administration, but also private firms, which drowning thousands of SMEs and the self and is dedicated to a new mass closure, as has occurred since the crisis began.

The public authorities paid their bills during the past year to 162 days, five more than the previous one, and 112 above the limit set in the new Delinquency Act. For its part, the companies paid their bills on average, within 98 days, 5 more than a year before and 13 days more than the legal limit. “And not only are there delays, but there has been a surge in defaults. In the last year have risen two points to stand at 7.1% of the total,” said Antoni Cañete yesterday, a spokesman for the platform during the presentation of the results of the latest survey on payment in 2011, drawn up after surveying almost 1,000 companies.

“We have reached a point and followed in the fight against delinquency. The cancer has metastasized and is necessary for the new government implemented emergency measures,” said warned of the negative evolution of payment periods in Spain which, in his view, has been the cause of one in three business closures in Spain. In fact, the payment terms of business and Spanish authorities lag behind the EU classification and are now (see chart below) almost the same level as Greece (168 days) and above Portugal (139), both operated by the European Union for its economic imbalances.

In this context, the platform yesterday asked the Executive the implementation of an emergency plan that serves to put the commercial debt clock to zero based on three axes. “It would be that all public authorities to undertake more debt does not grow with suppliers, to take the necessary sacrifices to pay off outstanding debt (estimated at 35,000 million euros) and to open a period of dialogue with all authorities involved, “said Cañete. In his opinion, this emergency plan is nothing new, but what would be republished and made the socialist government in 1992. “Only political will is needed for the Administration and finance companies stop aa expense of suppliers,” he said in reference to the Executive, which has already been forwarded this study. “It was one of the most supported us in the opposition to change the law Delinquency and hope to continue doing it,” he said.

Delinquency Act, in force since July 2010 establishes a schedule of progressive reduction in payment terms until January 1, 2013, in which the Administration may not exceed 30 days and businesses 60.

More money from the ICO, penalties and changes in VAT

The Multisectoral Platform Delinquency yesterday presented its proposals to try to stem the debt administrations and companies have contracted with SMEs and freelancers.

-Alternative financing: the president of the platform, Rafael Baron, demanded credit lines and guarantees of the ICO and the mutual guarantee “sufficient and flexible application for investment and working capital of SMEs and self.” It also requested the extension of tax incentives for financial instruments such as venture capital or business angels.

-Penalties: another requirement of the platform is the implementation of a system of penalties, including a regulation of the Delinquency Act, which has yet to develop, to avoid the feeling of impunity among those who lengthen repayment periods or not pay their bills. This scheme provides for penalties ranging from 6,000 euros to 900,000 euros mild to severe for. Among the last 60 days figure exceed the statutory period of payment or breach the limit when the amount of commercial operation exceeds EUR 300,000

-Changes in the VAT: the platform assesses the announcement by the Executive President, Mariano Rajoy, the investiture debate on the implementation of a cash basis in the payment of VAT (only pay when the bill has cleared) but also requires the creation of accounts with different tax authorities to repay debts crossed.

-Measures killings: Multisectoral Platform Delinquency requests the transfer of the model applied in France for dispute resolution between creditors and debtors, in which a court claim from supplier to customer can be used as evidence in court.

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