BIR Reg. on Deductibility of Bad Debts

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BIR REVENUE REGULATIONS NO. 5-99: BIR Reg. on Deductibility of Bad Debts

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Title Supreme Court: BIR Reg. on Deductibility of Bad Debts

Law: Bir Revenue Regulations No. 5-99

Decision Date: Mar 10, 1999

BIR Revenue Regulations No. 5-99 establishes the criteria for deducting bad debts from gross income, requiring taxpayers to demonstrate that debts are worthless and uncollectible, while outlining specific conditions and exceptions for valid deductions.

bad debts

tax code

deductibility

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