In the determination of the corporate tax base, the amounts for each year should be shown separately in the corporate tax return in order to make the deduction of previous year losses.

The taxpayers who do not take into account the previous year’s losses even though there is a profit in the relevant accounting period and there is a loss of previous year that can be subject to discount, are not able to add the previous year losses to the offsetting in the following years. Moreover, it is possible to make a deduction by giving a correction declaration until the end of the accounting period in which the date of the declaration is made, in case the previous year losses are not deducted from the corporate tax return.

However, in the following period, it is not possible to make a discount by presenting the correction declaration of the previous year losses which are not discounted for this period.

Source: GİB
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