Correction of output value added tax (VAT) liability for uncollected receivables
- Taxpayers can reduce their output VAT based on performed supplies in cases of inability of partial or full collection of receivables, when more than one year has passed since the receivable due date (subject to certain conditions, such as suing the debtors or initiating enforcement procedures, informing the tax authority of the performed corrections, etc.).
Source: KPMG
