For When You Have Some Time

[Pat Mustard]

Oh and 9 times out of ten when a major company posts a loss it is an accounting loss only. They're allowed to deduct a lot of stuff including notional impairments to goodwill and "interest" from intra company loans from their profit figures. So if a major company posts a loss only believe them if it's on the lines before the PBIT line.

^^^

Or EBITDA.

Also note, regarding those "loopholes"?  Largely, corporations got to keep theirs, unlike the proles.

Yeah, companies get to deduct pretty much every expense before being taxed, self employed too (here in Ireland). Me, I get nothing, just a crummy €3,300 tax free allowance and €34,000 cut off point.