- The Russian Ministry of Finance (MoF) has stated that Value Added Tax (VAT) is applicable on forgiven debt.
- This ruling clarifies tax obligations for businesses that have debt forgiven.
- The decision may impact financial reporting and tax liabilities for companies in Russia.
Source: research.ibfd.org
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.
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