Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 3404

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 tax on commercial and industrial profits. Exception. The rule of carrying forward losses and deducting them from the profits of subsequent years, subject to a maximum number of years during which this is permitted. Condition thereof. Continued pursuit of the activity and the losses having arisen from it.
Arabic original
مبدأ استقلال السنوات المالية في ضريبة الأرباح التجارية والصناعية. الاستثناء. قاعدة ترحيل الخسائر وخصمها من أرباح السنوات التالية مع تقيدها بحد أقصى لعدد السنوات التي يُسمح فيها بذلك. شرط ذلك. استمرار مزاولة النشاط وأن تكون الخسائر ناشئة عنه.
Original Arabic judgment citations

(الطعن ٧٤٢/٢٠٠١ تجاري جلسة ٢٦/١٠/٢٠٠٢ مج القسم الخامس - المجلد الثامن ص ٢١٠)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 572. PDF pages: 572.

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