Tax & Legal

The Supreme Tax Court has held that a refusal to recognise a related party loan write-off, does not preclude the tax office from treating the write-off of the accumulated interest as a further hidden distribution.

The Supreme Tax Court has held that an employee can write off a bond issued by his now insolvent employer as an expense of earning income if he accepted the bond as the only possible remuneration for work down.

The Supreme Tax Court has held that the write-off of a shareholder loan held as a business asset is fully deductible by the income taxpaying holder even if the loan is to be seen as a substitute for share capital