Recognition of hopeless debts (debt write-off)

“Debt write-off” may be useful for any taxpayer for the purpose of tax concession or even tax relief.

Recognition of hopeless debts involves providing evidence that the debtor will not be able to meet its financial obligations due to its economic and financial situation. Provided UAB “Kreditų Valdymo Grupė” collects all the necessary documentation to prove “debt write-off,” you may be entitled to a deduction or complete recovery of payable tax amount to the sum of a “written off” debt.