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BAPHALABORWA MUNICIPALITYAPPROVED DEBT WRITE OFF POLICY 2023/24 APPROVED BUDGET POLICYAPPROVAL DATE BY COUNCIL: 30 May 2023 COUNCIL RESOLUTION NUMBER:6/1/11. INTRODUCTION 1.1 The Council of BaPhalaborwa

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What is approved debt write-off?

An approved debt write-off is a formal acknowledgment that a specific debt is no longer collectable and has been officially removed from the financial records.

Who is required to file approved debt write-off?

Entities or individuals who have debts that meet certain criteria for write-off are required to file an approved debt write-off.

How to fill out approved debt write-off?

To fill out an approved debt write-off, one should complete the designated form by providing details about the debt, reasons for the write-off, and any required supporting documentation.

What is the purpose of approved debt write-off?

The purpose of an approved debt write-off is to accurately reflect the financial status of an entity and acknowledge the impossibility of collecting specific debts.

What information must be reported on approved debt write-off?

Information that must be reported includes the total amount of debt, debtor's details, reasons for write-off, and any previous collection efforts undertaken.

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