The legal interest rate for 2024 increases to 5.75%.
The legal interest rate is revised on an annual basis according to a rule decided by law.
Since 2014, the legal interest rate evolved as follows:
|
Period |
% |
|
From 01-01-2014 to 31-12-2014 |
2.75% |
|
From 01-01-2015 to 31-12-2015 |
2.50% |
|
From 01-01-2016 to 31-12-2016 |
2.25% |
|
From 01-01-2017 to 31-12-2017 |
2% |
|
From 01-01-2018 to 31-12-2018 |
2% |
|
From 01-01-2019 to 31-12-2019 |
2% |
|
From 01-01-2020 to 31-12-2020 |
1.75% |
|
From 01-01-2021 to 31-12-2021 |
1.75% |
|
From 01-01-2022 to 31-12-2022 |
1.50% |
|
From 01-01-2023 to 31-12-2023 |
5.25% |
|
From 01-01-2024 to 31-12-2024 |
5.75% |
Whoever forgets or neglects to pay an employee's wages which
he/she is entitled to or does not immediately pay the severance
indemnity after a dismissal, will be sentenced to pay that amount,
plus interest charges calculated at the above rate. These interest
charges must be calculated based on the gross amounts from the time
when they were due.
Action point
For the year 2024 you have to take into account a legal interest rate of 5.75%.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.