What is the maximum percentage by which the Tax Loss can be used to reduce the Taxable Income for subsequent Tax Periods?
The maximum percentage by which the Tax Loss can be used to reduce the Taxable Income for subsequent Tax Periods is 75%. However, this percentage can be altered based on a resolution issued by the Cabinet at the suggestion of the Minister of the Taxable Income for that Tax Period. In certain circumstances, as specified in a resolution issued by the Cabinet at the suggestion of the Minister, exceptions to this limit may apply.