Corporate income tax losses can be offset against profits from other years. A loss is first set off against the profit of the preceding year (carry back). Any remaining loss can then be offset against future profits (carry forward). Losses may be carried forward indefinitely.
An annual limitation applies: up to €1,000,000 of taxable profit can be fully offset; for profits exceeding this threshold, 50% of the remaining profit is eligible for loss utilisation.
If you would like more information on how loss utilisation applies to your specific situation, please feel free to contact us.
