setting off of losses: accounting term whereby if a loss is recorded, it is set against a profitable item in order to cancel out its effect.

the setting-off of operating losses;

Whereas cross-border losses within one company, i.e. losses of a foreign permanent establishment, may be taken into account at the level of the head office in most Member States, only a few Member States provide for cross-border setting-off of losses within a group of companies, i.e. allowing relief for the losses of a foreign company belonging to the same group.

To this end, all printing works participating in single Eurosystem tender procedures shall fully identify their income and costs and in particular provide information on: (a) the setting-off of any operating losses; and (b) whether an NCB or any public authority has provided the printing works with capital, non-refundable grants or loans on preferential terms; and (c) any forgoing of profits by an NCB or any public authority or the recovery of sums due; and (d) any forgoing by an NCB or any public authority of a normal return on public funds provided to the printing works; and (e) any compensation received for financial burdens or ta ...[+++]sks imposed on it by an NCB or by any public authority.

- the setting-off of operating losses,

The transparency referred to in Article 1 shall apply in particular to the following aspects of financial relations between public authorities and public undertakings: (a) the setting-off of operating losses;