11 Amendments of René REPASI related to 2022/0154(CNS)
Amendment 23 #
Proposal for a directive
Recital 2
Recital 2
(2) Member States’ tax systems allow the taxpayers to deduct interest payments on debt financing, and thereby reduce the corporate income tax liability, while costs related to equity financing are non-tax deductible in most Member States. The asymmetric tax treatment of debt and equity financing across the Union induces a bias towards debt in investment decisions. Moreover, where Member States provide for a tax allowance on equity financing in their domestic law, such national measures differ significantly in terms of policy design. By adopting this Directive, the Union answers the call by Parliament to address the tax-related debt-equity bias, including by reducing the interest deduction possibilities. 14a _________________ 14a Resolution of the European Parliament of 15 February 2022 on the impact of national tax reforms on the EU economy (2021/2074(INI)) (OJ C 342, 6.9.2022, p. 14).
Amendment 25 #
Proposal for a directive
Recital 3
Recital 3
(3) In order to remove possible tax related distortions among Member States, it is necessary to lay down a common framework of rules to address the tax related debt-equity bias across the Union in a coordinated manner. Such rules should ensure that equity and debt financing are treated in a similar way for tax purposes across the single market. At the same time, athe tax deductibility of debt and/or the creation of an allowance on increases in equity has a negative impact on public revenues. A common Union legislative framework should be sustainable also in the short term for Member States’ budgets. Such framework should therefore include rules, on the one hand, for the tax deductibility of equity financing costs and, on the other, for limiting the tax deductibility of debt financing costs.
Amendment 54 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 a (new)
Article 3 – paragraph 1 – point 5 a (new)
(5 a) ‘large undertaking’ means all undertakings which exceed the threshold for large undertakings, as laid down in Article 3(4) of Directive 2013/34/EU;
Amendment 56 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 b (new)
Article 3 – paragraph 1 – point 5 b (new)
(5 b) ‘Medium-sized group’ means all groups which do not exceed the threshold for medium-sized groups, as laid down in Article 3(6) of Directive 2013/34/EU;
Amendment 58 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 c (new)
Article 3 – paragraph 1 – point 5 c (new)
(5 c) ‘Large group’ means all groups which exceed the threshold for large groups, as laid down in Article 3(7) of Directive 2013/34/EU;
Amendment 66 #
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
Amendment 68 #
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 3
Article 4 – paragraph 1 – subparagraph 3
Amendment 82 #
Proposal for a directive
Article 4 – paragraph 3
Article 4 – paragraph 3
3. If, after having obtained an allowance on equity, the base of the allowance on equity is negative in a tax period, an amount equal to the negative allowance on equity shall become taxable for 105 consecutive tax periods, up to the overall increase of net equity for which such allowance has been obtained under this Directive, unless the taxpayer provides sufficient evidence that this is due to accounting losses incurred during the tax period or due to a legal obligation to reduce capital.
Amendment 86 #
Proposal for a directive
Article 5 – paragraph 3
Article 5 – paragraph 3
3. Where an increase in equity is the result of a reorganisation of a medium- sized group, such increase shall only be taken into account for the calculation of the base of the allowance on equity for the taxpayer in accordance with Article 4 to the extent that it does not result in converting into new equity the equity (or part thereof) that already existed in the medium- sized group before the re- organisation.
Amendment 95 #
(b) the number of SMEs and medium- size groups that have benefitted from the allowance in the tax period, including as a percentage of the total number of SMEs and medium-sized groups falling within the scope of this Directive and the number of SMEs that have benefitted from the allowance, which are part of large groups within the meaning of Article 3(7) of Directive 2013/34/EU;
Amendment 109 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
2. Member States may defer the application of the provisions of this Directive to taxpayers that on [1 January 2024] benefit from an allowance on equity under national law for a period up to 105 years and in no case for a period longer than the duration of the benefit under national law.