Careful tax planning that maximizes the business bad debt
deduction can help minimize the taxpayer's overall economic loss.
NBE's bad debts
portfolio shrank during fiscal year 2011-2012,amounting to approximately EGP 6.1 billion after the bank settled EGP 1.7 billion bad debts
, Abou El-Fotouh said.
Lloyds said high levels of bad debt
"partly" took the shine off otherwise strong growth in its UK retail banking division.
The cash set aside to cover bad debts
and extra investment in the business wiped out strong growth in Barclaycard's UK and overseas revenues.
Much of the pounds 1billion figure came from Barclay-card, where charges on bad debts
rose by more than a third to pounds 696million.
The Norwegian savings bank Aurskog Sparebank (OSE: AURG) reported on Thursday (3 February) an operating profit before bad debts
of NOK50.5m on net interest income and credit commissions of NOK69m for the financial year January-December 2004.
has sued the state Department of Finance and Administration, saying it should be reimbursed for the taxes because state tax 'law says the tax portion of bad debts
is refundable, according to records filed in Pulaski County Circuit Court.
Keep in mind that bad debts
don't disappear from your credit once they have been paid.
Nobody knows how big the Japanese banks' bad debt
problems really are (including the banks themselves), but one thing is clear: Writing off such "nonperforming" loans will mean closing many businesses and prolonging the recession, thus adding to the mountain of bad debts
However, many economists believe that Japan's bad debts
are actually far higher, and may total more than $1 trillion.
Everyone knows that the bad debts
of Japanese banks are huge.
Non-performing loans held by Thai financial institutions sharply declined in December to 17.9% of total outstanding debts, but new concerns have been raised bad debts
amid uncertainty over the new government's planned national asset management company, a private research house said Tuesday.