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7.1. General Rules

Operating losses can be carried-forward for 3-years following the year in which the loss was incurred. However, a company loses its ability to carry forward its losses in case there is a change of more than 50% in the direct or indirect ownership (represented through share capital or voting rights) of the company during the tax year. Capital losses are deductible for tax purposes.

Effective from 1 January 2020, companies investing in business projects with a value exceeding ALL 1 billion can carry-forward their operating losses for a period of 5 years.

No carry back of loss is allowed.