In this comprehensive, seven-page report – which can be downloaded as a PDF – David Jervis, Ben Jones and Elspeth Van den Brande provide a detailed review of the tax deductibility rules across various European jurisdictions.
The tax deductibility of finance costs is an important issue for businesses and tax authorities. In broad terms businesses want finance costs like most other business expenses to be deductible when calculating taxable profit. However it is possible to manipulate the provision of finance within a business particularly multinational businesses to obtain a tax advantage and tax authorities are all too aware of this.
Consequently while most jurisdictions operate on the basic assumption that finance costs are tax deductible this deductibility is typically subject to a variety of rules targeted at restricting such deductions in certain circumstances.
More recently the economic downturn has...
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In this comprehensive, seven-page report – which can be downloaded as a PDF – David Jervis, Ben Jones and Elspeth Van den Brande provide a detailed review of the tax deductibility rules across various European jurisdictions.
The tax deductibility of finance costs is an important issue for businesses and tax authorities. In broad terms businesses want finance costs like most other business expenses to be deductible when calculating taxable profit. However it is possible to manipulate the provision of finance within a business particularly multinational businesses to obtain a tax advantage and tax authorities are all too aware of this.
Consequently while most jurisdictions operate on the basic assumption that finance costs are tax deductible this deductibility is typically subject to a variety of rules targeted at restricting such deductions in certain circumstances.
More recently the economic downturn has...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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