On 24 April 2023, the Russian Government has submitted a draft bill to parliament proposing an extension of the current limit on the offset of carried forward losses. Currently, from 1 January 2017 to 31 December 2024, companies are only allowed to offset 50% of their carried forward losses against their taxable income each year. The proposed draft bill seeks to extend this limitation for an additional five years until 31 December 2029. The government aims to continue restricting the ability of companies to set off ordinary losses against their corporate income tax base until 1 January 2030. These proposed amendments are outlined in draft law No. 343435-8.
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