Special Alert: Tax Roundup: How the Argentine Tax Authority is Narrowing Exemptions and Finding Creative Ways to Tax

This article was first published in ARGENTINE BUSINESS LAW WATCH 1 January 17, 2003

Narrowing the Bad Debt Deduction (or How to Increase Tax Collections during a Recession)

Until recently, Argentine taxpayers could deduct bad debt write-offs from their taxable income upon a showing that the debtor was insolvent. Indeed, a recent decision, by the Argentine Federal Tax Court (Tribunal Fiscal de la Nación) had upheld, over the tax authority's objection, a taxpayer's bad debt deduction upon "manifest" evi...

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