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Bad debt relief in 2020

14.02.2020 Bad debt relief in 2020

Creditors will now have the option to reduce their income or increase any loss by the value of outstanding claims, but this will not be obligatory for them. Debtors, on the other hand, will be obliged to increase the tax base or reduce the loss by the amount of any unpaid debts that were previously included in tax deductible expenses.

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