A business day is one that is not a weekend (Saturday or Sunday) or a holiday.
The business day concept is very important in legal procedures. Understanding it is vitally important so as not to get into unwanted situations or receive penalties for it. For example, if we have 10 business days to present a tax document and we do not do so, we could be penalized for a monetary amount. This penalty will always depend on what the law establishes and is usually increased depending on the severity of the failure to present certain documents.
Thus, in some cases, not presenting certain documentation would simply force us to redo a procedure from scratch. On the contrary, in other cases, it would imply filing after the deadline and receiving a sanction for it.
In addition, it is important to note that within the framework of the European Union, if it is not specified, it will be business days.
Business day, calendar day and business day
The business day is not the only concept related to deadlines. It is common to find calendar days and working days as well.
- Business day: Monday, Tuesday, Wednesday, Thursday or Friday.
- Calendar day: any day of the week. In this case, Saturdays, Sundays and holidays are also taken into account when calculating.
- Business day: It is a concept equivalent to a business day, although it may vary depending on the sector.
With this in mind, we must clarify that the inclusion or not of certain days in the previous concepts will depend on the country. For example, in Spain, non-business days are considered Saturdays, Sundays, holidays, as well as December 24 (Christmas Eve), December 31 (New Year's Eve). Likewise, although the concept of a working day is equivalent to a working day, depending on the sector in which one works, Saturday could be considered as a working day. Mexico is an example of this, business day and business day (instead of business day) is the same concept and depends on the criteria of the company. So there may be 6 business days or business days per week.
Example of deadline with business days
Today is Tuesday and they send us a notification that we must provide certain documentation. The letter dictates that we have 10 business days from the day following receipt of the notification.
With which the last day to present the documentation will be Tuesday in two weeks. This same simulation can be performed in any case. If we had holidays on days other than Saturday or Sunday, we would skip that day as if it were a weekend. For example, suppose that Tuesday (last day) is a public holiday.
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