//Tax losses carried forward indefinitely

Tax losses carried forward indefinitely

Tax losses carried forward indefinitely

2017-12-27T15:53:53+00:00 February 2nd, 2012|Tax Advantages|

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.