Tax and VAT on losses on debtors etc.
Tax and VAT on losses on debtors etc.
This article is about the VAT and tax treatment of losses on all types of receivables.
Tax treatment of losses
With a few exceptions, both individuals and companies can deduct all types of losses on receivables. In turn, the vast majority of gains on such receivables are also taxable.
The deductibility applies not only to losses on business debtors, but also to losses on promissory notes, mortgages, bonds and suspense accounts.
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