Guernsey:
Taxation In Guernsey - Relief for Trading Losses
26 March 1999
KPMG
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The excess of losses sustained in a Year of Charge over other income in the Year of Charge can be set off against the assessable income of that Year of Charge. This effectively allows the loss to be carried back one year. In addition there is relief by set-off against future trading profits without time limit.
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