Can an Uzbek company carry losses forward?

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Accepted Answer

Yes. Losses reduce future profit, in the order they were incurred. Full or part The current period’s profit — may be reduced by the whole prior loss or any part of it. In order Oldest first — losses from more than one year carry in the order they arose. Year-end Applied on annual results — the base is reduced by prior losses only on the outcome of the current tax period. A loss — deductible expenses exceeding total income, after the section’s adjustments — may be carried forward: the taxpayer reduces the current period’s profit by the whole of the prior loss or part of it, applying losses in the order they were incurred and only by the results of the tax period. The article as in force states no general time or percentage cap; the former limits were repealed. Reorganisations and specific operations carry their own rules in the neighbouring articles — a merger does not automatically inherit the ordinary treatment.

Can an Uzbek company carry losses forward?

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