jackrossi wrote:You can get it back.
One of my clients kept paying tax on rent while the landlord was also paying it for months, around 6k he paid unecessarily. I got all his money back without too much trouble.
It takes a bit of explaining and paperwork at the tax office but it's not too hard.
For very small amounts it's probably not worth the time.
Yes Above is WHT not VAT so Rules Different and in above example WHT was paid twice.
In practice I have never had an issue (passed tax Audits) claiming back VAT when writing Bad Debt ( Amounts were very small too) off with a Credit Note but this was with business that regularly issued credit notes for other business reasons.
RE deductibility of Bad debt
A loss on a claim (i.e. bad debt) is deductible where the impossibility to recover the loss can be clearly shown and that claim has been written off from the accounting books, except where the giving up of the claim is an ‘abnormal act of management’ (still to be defined).
http://taxsummaries.pwc.com/ID/Cambodia ... Deductions
I have had impossibility explained by Tax professionals as haven tried to recover debts though courts which would only work for large amounts and in its self almost impossible
[quote="jackrossi"]You can get it back.
One of my clients kept paying tax on rent while the landlord was also paying it for months, around 6k he paid unecessarily. I got all his money back without too much trouble.
It takes a bit of explaining and paperwork at the tax office but it's not too hard.
For very small amounts it's probably not worth the time.[/quote]
Yes Above is WHT not VAT so Rules Different and in above example WHT was paid twice.
In practice I have never had an issue (passed tax Audits) claiming back VAT when writing Bad Debt ( Amounts were very small too) off with a Credit Note but this was with business that regularly issued credit notes for other business reasons.
RE deductibility of Bad debt
A loss on a claim (i.e. bad debt) is deductible where the impossibility to recover the loss can be clearly shown and that claim has been written off from the accounting books, except where the giving up of the claim is an ‘abnormal act of management’ (still to be defined).
http://taxsummaries.pwc.com/ID/Cambodia-Corporate-Deductions
I have had impossibility explained by Tax professionals as haven tried to recover debts though courts which would only work for large amounts and in its self almost impossible :)