The Amending Finance Bill for 2021, intended to finance the various accompanying measures related to the health crisis, was presented on 2 June to the Council of Ministers and is now before the Parliament.
This measure would offer the possibility for companies to carry back their tax loss recorded under the first FY showing a loss closed between 30 June 2020 and 30 June 2021 on the profits from the three previous FYs (2019, 2018, and 2017) and this, without any limitation as to amount.
It is reminded that so far, the carry-back was only possible on the taxable profits of the previous year, with a cap of €1million.
This claim is chargeable to the corporate income tax for the following five years and reimbursed at the end of this five-year period. An exceptional option period is also planned for companies when the time period for the carry back option would have already expired or be about to expire on the date the law was published.
This measure is also applicable to tax groups.
paid between 1 June 2021 and 31 March 2022.
for aid received as from the year 2021 or FY closed since 1 January 2021.
would be established, under certain conditions, for companies in the sectors of tourism, hotels, restaurants, sport, culture, air transport and event organization, employing less than 250 employees.
For additional information please contact our tax experts at FIDAL.
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