Mo Tu We Th Fr Sa Su
       
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Banks are allowed to write off bad loans without tax consequences (auto-translate)

The state fiscal service has withdrawn its letter from 08.02.2017 year, which established that is recognized bad debt is only part of the amounts of debt over 360 days. That is, if a debt exists only in the body of the loan and accrued interest is missing for taxation shall be only payable on the loan.This contributed to the Ministry's position, formulated in response to a request from NABOO.

Earlier, the Ministry of Finance in its letter to the NEB agreed that in accordance with paragraph 14.1.11 of paragraph 14.1 of article 14 of the Tax Code of Ukraine to banks, bad debt is the debt on the financial loan, which is overdue more than 360 days, the repayment of debt. That is, if the outstanding loan overdue more than 360 days, and the amount of accrued interest such a debt is no, it is hopeless for taxation shall be the entire loan, which includes debt principal debt and unpaid interest.
 
The same banks are finally closing one of the many problematic issues faced by the banking system in the interpretation of the Tax code of Ukraine and the Fiscal service.
 

 

The project is funded by a grant received from the European Bank for Reconstruction and Development under the Shareholder Special Fund.
The project is implemented by the administrative and financial support of NABU.