20.12.2011 Debts automatically bad on opening insolvency proceedings The finance ministry has ruled that the VAT on receivables from sales of goods or services is to be automatically cancelled on the opening of insolvency proceedings against the debtor. Payments made later by the trustee lead to re-adjustment of the VAT return. Categories: Official PronouncementsKeywords: irrecoverable, insolvency
20.01.2011 No relief for loss of foreign subsidiary until final The Supreme Tax Court has held that even if a company is entitled to offset the loss of its foreign subsidiary at all, it cannot do so before the loss becomes irrecoverable. Categories: Supreme Tax Court casesKeywords: Loss relief, write-down, irrecoverable, ...
