tax loss Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “tax loss” in the English Dictionary

"tax loss" in Business English

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tax lossnoun [C]

uk   us  
ACCOUNTING, TAX a ​situation in which a ​company or ​investmentlosesmoney in a particular ​period, so there is no ​tax to ​pay on it, and in some ​casestaxpaid on ​profits in previous ​periods can be got back: If you make an ​investment that ​creates a ​taxloss, you can then use this ​loss to ​reclaimincometaxpaid previously.
GOVERNMENT, TAX a ​situation where the ​governmentcollects less ​tax than it would have ​normallycollected in a particular ​period: The ​fraud resulted in a ​taxloss to the ​publicpurse in ​excess of £400,000.
(Definition of tax loss from the Cambridge Business English Dictionary © Cambridge University Press)
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“tax loss” in Business English

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