2010 |
Associação Portuguesa dos Administradores Judiciais
|
Portugal |
Processo 9/10.6BCPRT - Tribunal Central Administrativo Norte |
There is no activity when it is decided for estate settlement of the insolvent debtor and the distribution of the assets obtained among creditors, since the purpose is not profit, but only payment to creditors, so there is no economic operation with a business nature. |
2005 |
Busa, V.
|
Italy |
Problematiche fiscali del fallimento e prospettive di riforma |
Business activity after insolvency should not be liable to taxation. |
2010 |
Fernandes, C. M., & Mario, P. C.
|
Brazil |
Ensaio sobre a essência contábilversus a forma jurídica: (d)efeitos na tributação de uma massa falida |
After bankruptcy, the bankrupt is dispossessed of its assets and the bankrupt estate emerges, as an "accounting entity for the purposes of analyses and controls," but it has no legal personality in the Brazilian positive law and it is also not equal to a "person for tax purposes." |
1966 |
Krause S., &Kapiloff A. Y.
|
U.S. |
Symposium, creditors' rights, the bankrupt estate, taxable income and the trustee in bankruptcy |
When the bankrupt estate is created, there is a tax directly imposed against property and indirectly against creditors, by reducing their dividend in bankruptcy, so the effect of bankruptcy is transferring the tax burden from debtors to creditors. |
2012 |
Medina, J. R. S.
|
Spain |
Implicaciones fiscales de la reforma concursal |
By favoring the credit position of public creditors in case of bankruptcy, it ceased safeguarding the position of creditors, which is the main interest of insolvency proceedings, in order to prioritize the public interest, which comes out favored at the expense of the economic operators. |
2010 |
Ministério das Finanças e da Administração Pública, Secretaria de Estado dos Assuntos Fiscais
|
Portugal |
Processo 9/10.6BCPRT - Tribunal Central Administrativo Norte |
Compliance with tax liability standards, even at the phase of an insolvent company's settlement of assets, will have nothing extraordinary in the light of the principles underlying taxation liable to the IRC. |
2002 |
Moreno-Ternero, J. D.
|
Spain |
Bankruptcy Rules and Progressive Taxation |
The issue of bankruptcy is the fact that there must be assigned a certain amount of a divisible good when a company has not enough to meet the requirements of all creditors. |
2000 |
Newton, G. W.
|
U.S. |
Bankruptcy and Insolvency Accounting Practice and Procedure |
The effect of tax on certain transactions may impose greater difficulties to entities that are undergoing insolvency, as per se in a weak financial position. |
2012 |
Tiago, F.
|
Portugal |
A empresa insolvente mantém a personalidade tributária |
In companies declared as insolvent, it is not the fact of being a universal settlement of assets and faced with a deficient economic situation that prevents observing fortuitous and unexpected revenue gain, sales of goods for amounts that can not only pay all debts, but generate surpluses, equity increase. As such, no reason remains to evade taxation regarding the IRC. The taxable profit of an insolvent company is, however, determined in relation to the entire settlement period of the company's equity. |
2005 |
Tosi, L.
|
Italy |
Problematiche fiscali del fallimento e prospettive di riforma |
Many of the problems that arise for identifying the treatment applicable to fiscal proceedings occur due to an overlap between tax legislation and the bankruptcy law. |