On 2 June 2021, Government published the amended draft Finance Bill 2021 in the National Assembly, which proposes to temporally ease conditions related to the carryback mechanism applicable to tax losses. According to the Bill, companies will be Officially allowed to carry back, on the profits recorded for the three previous financial years and without any other cap, the deficit that may be recorded for the first financial year ended from 30 June 2020 until 30 June 2021. The cost of this measure is estimated at € 0.4 billion, which will depend on the speed of the economic recovery, considering the ability that companies would have had in any case to carry forward their deficits.
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