Legal interest rate for 2015 fixed at 2.50% per year

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Date:
03 Feb 2015

Since 1 January 2015 the legal interest rate decreased from 2.75% to 2.50%. In fiscal matters and in matters involving the National Office for Social Security (NOSS) the rate remains 7% for now.

 

The legal interest rate is revised on an annual basis according to a rule decided by law.

Since 1970, the legal interest rate evolved as follows:

 

From 01-07-1970 to 31-10-1974

6.5%

From 01-11-1974 to 31-07-1981

8%

From 01-08-1981 to 31-07-1985

12%

From 01-08-1985 to 31-07-1986

10%

From 01-08-1986 to 31-08-1996

8%

From 01-09-1996 to 31-12-2006

7%

From 01-01-2007 to 31-12-2007

6%

From 01-01-2008 to 31-12-2008

7%

From 01-01-2009 to 31-12-2009

5.5%

From 01-01-2010 to 31-12-2010

3.25%

From 01-01-2011 to 31-12-2011

3.75%

From 01-01-2012 to 31-12-2012

4.25%

From 01-01-2013 to 31-12-2013

2.75%

From 01-01-2014 to 31-12-2014

2.75%

As of 01-01-2015

2.50%

 

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 2015 you have to take into account a legal interest rate of 2.50%.