As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.
Australia, Belgium, China, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Italy, Netherlands, Poland, Singapore, Slovakia, Spain, Sweden, United Arab Emirates, United Kingdom, Banking, Capital Markets, Insolvency & Restructuring, Tax, Bird & Bird LLP, Coronavirus, UK House of Commons, Securities and Exchange Board of India
Tax treatment in the hands of the creditor
Netherlands, Insolvency & Restructuring, Tax, Bird & Bird LLP, Tax exemption, Bankruptcy, Shareholder, Debtor, Dividends, Waiver, Accounts receivable, Taxable income, Debt, Tax deduction, Holding company, Distressed securities
Tax treatment in the hands of the creditor
If a creditor waives an intra-group receivable, this leads to an accounting loss in the amount of the receivable. Such loss, however, is not automatically tax-deductible in the hands of the creditor.
Germany, Insolvency & Restructuring, Tax, Bird & Bird LLP, Share (finance), Shareholder, Debtor, Security (finance), Waiver, Accounts receivable, Taxable income, Debt, Liability (financial accounting), Tax deduction, Fair market value, Distressed securities, Bénéfice, GAAP