The finance ministry has called upon tax offices to follow a Supreme Tax Court judgment prohibiting a write down of fixed-interest securities to their lower current market rate where there is no risk of ultimate loss. Continue reading
Tax & Legal
The supreme Tax Court has held that a bank cannot write down its fixed-interest securities held as current assets below their nominal (redemption) value, not withstanding a lower market value at balance sheet date.
The Supreme Tax Court has held that a profit-sharing loan can be dependent on an overall, as opposed to an annual, surplus.