- NBR issued updates in the VAT General Guide, version 1.10
- Guide clarifies conditions for businesses to claim bad debt relief
- Debt must be more than six months overdue and written off in company’s accounts
- Required documentation includes evidence of supply, invoices, and collection efforts
- Outlines step-by-step procedure for claiming bad debt relief to comply with VAT law.
Source: pwc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
