AmCham Macedonia Winter 2014 (Issue 40) - Page 21

ANALYSIS or from when services were rendered). The second problem – which is still unresolved – is that the law created a 45 day extension of the payment deadline in cases where the debtor is the Republic Health Insurance Fund or users of the assets of the Republic Health Insurance Fund. In these cases, the maximum allowed payment period is 90 days. The intention was to gradually reduce the payment period of the Fund, down to a 90 day maximum according to the following schedule: • from March 31, 2013 until December 31, 2013 payments had to be made within 150 days; • throughout 2014, payments have to be made within 120 days; • from January 1, 2015 onwards, payments will have to be made within 90 days. payment by the public sector was one of the major causes of illiquidity in Serbian companies. It is obvious that the law has not entirely eliminated this