The Russian Ministry of Finance recently issued guidance on the rules regarding the tax treatment of bad debts owed by non-residents. According to the guidance, debts may generally be recognized as uncollectable in cases where:
- The term of repayment of the debt has expired;
- The debt obligation has been terminated due to the impossibility of its fulfillment on the basis of an act issued by a state authority or as a result of the liquidation of the debtor;
- It is impossible to ascertain the loc…