Losses clawed back through taxation of equal profits are restricted to losses carried forward and offset with profits and exclude losses which were carried forward but not offset with profits due to the lapse of the 5 years.

и еще не уверена насчет equal profits

The government claws back some of the money which it gives to arts organizations, in the form of tax. — Правительство получает назад часть денег, выданных художественным организациям, в форме налогов.