Prepare a report on whether any legislative changes are necessary to allow credit institutions, their subsidiaries, and separated entities to deduct losses from debt write-downs against corporate income tax.
Introduced at R3. Financial stability: Reduce non-performing loans. Growth: Enable new bank lending.
At R4, done with delay. A report was produced which lays out the regulations and laws which need to be amended to allow credit institutions to deduct losses from debt write-downs against corporate income tax.