Tax losses carried forward for five years

////Tax losses carried forward for five years
Tax losses carried forward for five years 2017-12-29T11:12:20+00:00

The tax loss incurred during the year is carried forward and set off against future profits for a period of five years. In addition the loss can be set off against the profit of another group company provided both companies are tax resident of Cyprus.

Tax losses from a permanent establishment abroad can be set off with profits of the Cyprus Companies. However, Subsequent profits of the permanent establishment abroad are taxable up to the amount of losses allowed.