This article permits a Taxable Person to carry forward a Tax Loss to offset against Taxable Income in subsequent Tax Periods. The amount of loss utilised in any single future period is capped at 75% of the Taxable Income for that period, before the offset. There is no time limit on how long losses can be carried forward. The relief does not apply to losses incurred before the commencement of Corporate Tax, before a person became a Taxable Person, or from activities generating exempt income. Losses must be utilised on a first-in, first-out basis.