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Tax Loss Carryback - Global Insights

Tax Loss Carryback Global Insights

Click on a region to enlarge and read TLCB developments

Carryback system in place
COVID-19-related Carryback measures introduced
Carryback system in place AND new COVID-19 measures
No Carryback system or CB-related COVID-19 measures
No Information

Global Map

Globally, at least 20 countries or jurisdictions provide some form of Tax Loss Carryback, either as an ongoing system or as a response to the COVID-19 crisis. 75% of these are from the 37-member OECD community. At least 77 nations/jurisdictions have no TLCB provisions in place.

So far, a dozen national tax authorities have introduced significant pandemic relief TLCB programs. Germany, Japan, Korea, the Netherlands, Singapore, the United Kingdom and the United States have all supplemented their existing TLCB systems with additional programs.

Austria, Belgium, the Czech Republic, New Zealand, Norway, Poland and Taiwan did not previously have TLCB systems, but have introduced temporary measures to support business liquidity during the crisis.

A number of economies have either general or restricted TLCB systems in place but so far have not added any further pandemic-related CB measures. These include Canada, Egypt, Ghana, Ireland and Kenya.

Other national governments around the globe, including Cairo, Canberra, and La Paz continue to evaluate their options in response to the pandemic and may announce budget measures in the coming weeks.

Overview on Tax Loss Carryback Systems in 100
jurisdictions on all continents

The COVID-19 pandemic has created significant uncertainty for businesses worldwide and the real impact on companies is still emerging. Many companies are facing the spectre of losses and are looking for enhanced liquidity, including through existing tax programs and the trillions of dollars being made available globally through new legislation and relief programs.

The availability of existing and pandemic-related systems and the rules underpinning them are, however, far from universal. CFOs and corporate tax directors with global and regional responsibilities require an overview of their options and requirements to assist in decision-making.

Our WTS Global experts are pleased to provide a summary of the existence of Tax Loss Carryback (TLCB) options in 100 jurisdictions on all continents.

Mapped are the countries that have introduced tax loss carryback systems and the summary shed light on how businesses can make use of them. The information is up to date as of June 17, 2020 and further news from some governments can be expected.

Please contact us if you need advice on how to navigate cross-border tax matters and to discuss the unique requirements of your company.

Click here to download the brochure

Click here for the WTS Global newsfeed: Managing the impacts of COVID-19 - Global updates for +50 countries

Please click on the interactive map to see country-related Tax Loss Carryback (TLCB) measures. First select your continent, then click on the red pin in the country of interest.

Brochure: Tax Loss carryback - Global Insights

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Articles and further information

With the spread of COVID-19, there is also uncertainty on the implications from a tax and legal point of view. WTS Global member firms around the world have composed country-specific information sheets. Find all links in the article.