Log in to myIR, click “Income Tax”, and select “Opt-in to carry-back loss” in the box of “I want to…” in the upper right corner to enter the application page. There are two years to choose from, which are the 18-19 fiscal year and the 19-20 fiscal year. Assuming that the loss was incurred in 2020, and that it was profitable in 2019 and the income tax has been paid, then the loss in 2020 can be used to deduct the profit of 2019 in this way, and then the income tax that has been paid is refunded. If there will be a loss in 2021, the profit in 2020 can also be deducted in this way and the corresponding income tax will be refunded.
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