background image
7.1. General Rules

Operating losses can be carried forward for 6 years. However, operating losses can be offset against income from other sources (except exempt income) earned in the same tax year. Further, the carried forward operating losses cannot be offset against more than one-half of the taxable income in a tax year.

Carry back of losses is not permitted in Saint Lucia.

Exempt income refers to income earned during the tax holiday period by hotel business and enterprises approved under Fiscal Incentives Act.