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V2281-15 ·20 July 2015 ·consulta-vinculante Medium impact
Tax

Income from insolvency debt write-offs and deferrals is included in the tax base as financial expenses are recorded

The taxpayer inquired about the taxation of income arising from the judicial approval of debt write-offs and deferrals within an insolvency agreement. The Directorate General of Taxes (DGT) ruled that such income must be recognised for tax purposes as the corresponding financial expenses for that same debt are recorded.

In 6 key points

How it affects those involved

This ruling clarifies the timing of tax recognition for income derived from insolvency proceedings, aligning it with the recognition of related financial expenses.

Lifecycle

2015-07-20PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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