ApprofondimentiCircolariMemorandum N. 15 Feb. 20, 2024 Losses on receivables

20 February 2024

For the purposes of determining the business income of entities other than banks, other financial companies and insurance companies, the tax treatment of charges arising from the uncollectibility of receivables that have become “final” (so-called credit losses) is governed by Article 101, paragraph 5, Tuir, according to which credit losses are deductible from business income (without limits and with an analytical mechanism), if they result from certain and precise elements and in any case if the debtor is subject to insolvency proceedings.

 

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