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7.1. General Rules

Ordinary losses can be carried forward for five years.

In case of a change in the ownership of an unlisted joint-stock company or company limited by shares, the carry-forward of losses is forfeited if the change affects more than 50% of the shares, stocks or voting rights, and also results in a change in the business activity.

The carry-back of losses is generally not permitted. An exception applies, however, to contracting companies (with long-term projects), which are allowed a loss carryback for an unlimited period of time (to the extent of the duration of the contract).