10-04-2010, 07:14 PM
Dear,
There is no law that forces the writing off liabilities after three years. However, for tax purposes such liabilities will be added back as income and tax will be applied to such income including such liabilities.
Regards,
There is no law that forces the writing off liabilities after three years. However, for tax purposes such liabilities will be added back as income and tax will be applied to such income including such liabilities.
Regards,