There may be some tax liabilities in China we are not aware and or they are carried on there books in China, which they paid there, but must account for somehow and not have some type of double taxation. If its an ERROR, net loss is less, more value to the company.
Definition of 'Net Loss'
The result that occurs when expenses exceed the income or total revenue produced for a given period of time. For tax purposes, net losses in one time period can be used to counteract the income/gains generated in another time period. Under tax law, this loss can be carried back as far as two years.
Also referred to as a net operating loss (NOL).
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