Are losses taxable or tax deductible? 1.38K viewsTax 0 Guest60 0 Comments How exactly are the losses for the year treated for tax purposes? Do we still need to pay some tax or can we use the losses to claim tax back? 1 Answer ActiveVotedNewestOldest 0 Guest60 Posted 0 Comments Tax losses brought forward from previous years can be utilized to reduce the tax in the current year. There are of course rules that need to be followed to utilize tax losses but they are indeed tax deductible. Register or Login Search for:
