Decrees and Circulars on EIT – Loss carry-forward

The General Department of Taxation (GDT) issued OL 1534/TCT-CS on 7 May 2010 confirming that business entities are permitted to carry forward the losses of any fiscal year up to a maximum of 5 years. However, the carry-forward is to be done after the year-end Enterprise Income Tax (EIT) finalization and not during the quarterly tax return submissions.