Loss carryover rules
Loss carryover rules Losses acquired by the company in previous years can be recognized as specific expenses in the following tax periods. It would be bad if we did not note that the mechanism for such a transfer is provided for by the Tax Code. In other words, in subsequent tax periods the company has the right to reduce the tax base by the amount of the tax loss (full or part thereof) acquired in previous years (Article 283 of the Tax Code of the Russian Federation). This is certainly one of the most effective legal ways to reduce a company's tax burden Accountants in Walsall . Note that this is not a privilege that is provided to the "chosen few", but a universal right. It is also possible that virtually all companies use it. It would be bad if we did not note that, therefore, at first we will consider the general rules for the transfer of losses to the future. Please note: only tax loss can be carried forward, not accounting loss. After all, the ...