Why do I charge AJD?
- AJD. When a customer pays you by a check or a promissory note and you enter it into your account or deduct it from your bank, it sometimes charges you an amount of money. Note. These stamps correspond to the Tax on Documented Legal Acts (AJD) to be satisfied by the issuance of documents that "function as a giro" (among others: bills of exchange, promissory notes and checks - in the latter case, if they are endorsed Or contain the "to order" clause.
- Rate. This tax is paid according to a rate that varies according to the amount of the document (the higher the amount, the higher the tax). Note. Thus, for a promissory note of 1,600 euros, the amount to be paid is 8.41 euros; And for one of 50,000 euros, the tax is 269 euros.
- Forced to pay. In the case of bills of exchange, when issuing on letterhead, the tax is paid by the issuing company (which, upon acquiring the letterhead, already meets the tax). Note. However, in the case of promissory notes and checks, even though the taxable person is also the issuer, in practice the bank satisfies it, after charging the amount to the person who enters it or discounts it (this is because both the Bank as the one that collects said documents are jointly and severally liable to enter the tax).
- Promissory notes. Well, know that in the case of promissory notes you can avoid paying the AJD in a simple way: ask your client to state on the obverse of that document the statement "not to order". Note. Thanks to this, the note will cease to be endorsable and will lose its spinning function, so the bank will no longer have to charge the tax.
- Checks. In the case of checks, if it is a check already endorsed or "to order", it will not be possible to include the mention "not to order". Note. So, ask your customers to pay you with standard checks: not endorsed or with the "to order" clause.
Executive force of promissory notes
- Speed. In any case, before stamping in a promissory note the "no to order" clause to avoid AJD, please note:
- In case of non-payment, promissory notes have "executive power": they allow the debtor to be sued by a fast and expeditious judicial procedure (after the lawsuit, the judge grants the debtor ten days to pay, and if he does not, his assets are seized) .
- On the other hand, if the "no to order" clause appears in the promissory note, it will lose that executive power. If you have to go to court for non-payment, you will first discuss the reality of the commercial operation whose payment you are claiming, and only then - when you have a final judgment in your favor - you can request the attachment of the debtor's assets.
- Discount. In addition, this executive force also makes it easier for banks to discard the promissory note. Attention! If the promissory note is "not to order" it will be more difficult to deduct; And if they do, they will surely demand a higher interest rate.
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