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Payment Terms Legislation In Malta
Malta
Please see below for a summary of payment terms in Malta and the various industries across which payment term legislation appears. You can also download a summary of all Maltese payment terms by clicking the button below.
Please click here to view payment terms for the European Union.
Please click here to view payment terms for the European Union.
| Industries | Laws | Codes | Notes | Interest Rate |
|---|---|---|---|---|
| Government | ||||
| Comm_terms_law | ||||
| Construction | ||||
| Manufacturing | ||||
| Retail_agriculture | ||||
| Services |
LAWS
The Commercial Code (Amendment) Order 2014, and previously 2012, enacts the EU Late Payment Directive (see European Union for details).
- Government
- Comm_terms_law
- Construction
- Manufacturing
- Retail_agriculture
- Services
L.N. 266 of 2021 of the Supplies and Services Act of Malta enacts the EU UTP directive, setting maximum payment terms for regular and non-regular deliveries. (see European Union for details).
- Comm_terms_law
- Retail_agriculture
NOTES
See European Union for the Directive on Unfair Trading Practices in the Food Supply Chain which was adopted on 30 April 2019.
- Retail_agriculture
INTEREST RATE
The statutory interest rate for commercial transactions is specified in article 120 of Book 6 of the Civil Code. The rate is the European Central Bank refinancing rate plus 8%, and is set semi-annually and published on the government website.
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