Contents
The section describes the rules on taxation of gains and losses on debt.
The section covers
Definition of debt
Debt is defined as a person's unilateral and unconditional obligation to pay a sum of money.
Rule
Gains and losses on debt must be included in the basis of taxation under Sections 3, 6 and 7 of PAL and must be determined according to the inventory principle. See Section 15(3), cf. (4), of PAL. See also section C.2.2, Determining the basis of taxation according to the inventory principle.