• A loss incurred in the previous years may be carried forward and deducted in the subsequent years for a period of five years commencing from the end of the tax year in which such loss was incurred. However, a loss incurred in an activity exempted under this Law or any other Law may not be carried forward and deducted, except under the following paragraph.
  • In the case of establishments and Omani Companies with temporary exemption in accordance with the Law, their net loss incurred during the first five years of the exemption period may be carried forward and deducted in the subsequent years until the entire amount of the net loss is set off.