Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 272

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

The principle of the independence of financial years in the taxation of commercial and industrial profits. The exception. The rule of carrying losses forward and deducting them from the profits of subsequent years, subject to a maximum number of years during which this is permitted. The condition therefor. Continued conduct of the activity and that the losses arise from it.
Arabic original
مبدأ استقلال السنوات المالية في ضريبة الأرباح التجارية والصناعية. الاستثناء. قاعدة ترحيل الخسائر وخصمها من أرباح السنوات التالية مع تقييدها بحد أقصى لعدد السنوات التي يُسمح فيها بذلك. شرط ذلك. استمرار مزاولة النشاط وأن تكون الخسائر ناشئة عنه.
Original Arabic judgment citations

(الطعن ٤٧٢/٢٠٠١ تجاري جلسة ٢٦/١٠/٢٠٠٢ مج القسم الخامس - المجلد الثالث ص ٢٨)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 55. PDF pages: 55.

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