Debt Write-Off Certification

Experts in Debt Write-Off Certification in Colombia

At Trébol Jurídico, we specialize in Debt Write-Off Certification in Bogotá, Medellín, and throughout Colombia. With over 30 years of experience in debt collection solutions, we provide specialized legal advisory services.

Debt write-off has several implications, including preventing the reflection of a non-real asset on the company’s financial statements, as the receivable has been classified as uncollectible.
Another implication concerns tax payments or reductions. When certifying a receivable as “uncollectible” or “irrecoverable” unrecoverable part of the write-off can be considered a deductible expense.

Understanding Write-Off

A write-off refers to an accounting operation where an amount initially recorded as an asset is treated as a loss after all necessary efforts to collect the debt have been exhausted and its irrecoverability unrecoverability has been certified.

Tax Effects of Certification

The primary tax effect of debt write-off certification is the opportunity for the taxpayer to deduct part of that recognized income or receivable as an expense. This deduction reduces the taxable base, resulting in a lower tax liability on the income tax return.

However, debt write-off does not exempt companies from their obligation to pursue appropriate collection actions. It is essential to document the collection efforts made and the reasons for classifying assets as uncollectible or irrecoverable.

Our Service

This service is crucial for businesses and financial institutions seeking to certify the accounting write-off of receivables. We manage all stages of the process to ensure compliance with legal requirements.

Legal Advisory

We offer legal advice on a broad range of matters. Our specialized attorneys are prepared to assist you in navigating the complex legal system.

At Trébol Jurídico, we are committed to providing the best service in debt write-off certification. Contact us for any inquiries or requests.