Liabilities that a person or company must pay within a year that do not accrue
interest. Examples of NIBCL include taxes that are due but do not have interest or
penalties (that is, taxes due in the current year) and
accounts payable where the
creditor is not charging interest. Less commonly, an NIBCL may be an interest-free loan. Non-interest-bearing current liabilities are recorded on a
balance sheet under
current liabilities.