Activities of José GUSMÃO related to 2022/0154(CNS)
Shadow reports (1)
REPORT on the proposal for a Council directive on laying down rules on a debt-equity bias reduction allowance and on limiting the deductibility of interest for corporate income tax purposes
Amendments (15)
Amendment 16 #
Proposal for a directive
Recital 1
Recital 1
Amendment 19 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1 a) Whereas the burden of the promotion of capital markets should not be bared by governmental budget.
Amendment 28 #
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3 a) Whereas tax avoidance and evasion have a transformative nature and creating new tax benefits increase the risk of potential new forms of harmful tax practices; whereas additional corporate tax benefits decrease the revenues of Member States and pressure public services.
Amendment 41 #
Proposal for a directive
Recital 7
Recital 7
(7) To effectively address the tax- related debt-equity bias in a manner sustainable for the Union’s public finances, an allowance for equity financing should be accompanied by a limitation on the deductibility of debt financing costs. An interest limitation rule should therefore limit the deductibility of exceeding borrowing costs and apply independently from the allowance. Given the different objectives between such a rule and the existing anti-tax avoidance rule on interest limitation of Article 4 of Directive (EU) 2016/1164, both rules should be maintained. Taxpayers should first calculate the deductibility of exceeding borrowing costs under this Directive and then under ATAD. In the event that the latter results in a lower amount of deductible exceeding borrowing costs, the taxpayer should deduct this lower amount and carry forward or back any difference between the two amounts in accordance with Article 4 of ATAD.
Amendment 55 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 a (new)
Article 3 – paragraph 1 – point 5 a (new)
(5 a) a 'large undertaking' means all undertakings which exceed the threshold for large undertakings, as laid down in in Article 3(4) of Directive 2013/34/EU;
Amendment 57 #
Proposal for a directive
Article 3 – paragraph 1 – point 5 b (new)
Article 3 – paragraph 1 – point 5 b (new)
(5 b) a 'large group' means all groups which exceed the threshold for large groups, as laid down in in Article 3(7) of Directive 2013/34/EU;
Amendment 61 #
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 1
Article 4 – paragraph 1 – subparagraph 1
An allowance on equity shall be deductible, for 105 consecutive tax periods, from the taxable base of a taxpayer for corporate income tax purposes up to 3015% of the taxpayer's earnings before interest, tax, depreciation and amortisation (“EBITDA ”) or up to EUR 140 000, whichever amount is lower in the tax period.
Amendment 67 #
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 2
Article 4 – paragraph 1 – subparagraph 2
If the deductible allowance on equity, in accordance with the first subparagraph, is higher than the taxpayer’s net taxable income in a tax period, Member States shall ensure that the taxpayer may carry forward, without time limitationfor a maximum of 2 tax periods, the excess of allowance on equity to the following periods.
Amendment 69 #
Proposal for a directive
Article 4 – paragraph 1 – subparagraph 3
Article 4 – paragraph 1 – subparagraph 3
Amendment 76 #
Proposal for a directive
Article 4 – paragraph 2 – subparagraph 2
Article 4 – paragraph 2 – subparagraph 2
The allowance on equity shall be equal to the base of the allowance multiplied by the 10-year risk-free interest rate for the relevant currency and increased by a risk premium of 1% or, where the taxpayer is an SME, a risk premium of 1.5%.
Amendment 79 #
Proposal for a directive
Article 4 – paragraph 2 – subparagraph 3
Article 4 – paragraph 2 – subparagraph 3
Amendment 83 #
Proposal for a directive
Article 4 – paragraph 4
Article 4 – paragraph 4
Amendment 84 #
Proposal for a directive
Article 4 – paragraph 4 a (new)
Article 4 – paragraph 4 a (new)
4 a. The provisions of this Article shall not apply to large undertakings and large groups.
Amendment 89 #
Proposal for a directive
Article 6 – paragraph 1
Article 6 – paragraph 1
1. Member States shall ensure that a taxpayer is able to deduct from its taxable base for corporate income tax purposes exceeding borrowing costs as defined in Article 1, point (2), of Council Directive (EU) 2016/116435 up to an amount (a) corresponding to 850% of such costs incurred during the tax period. If such amount is higher than the amount (b) determined in accordance with Article 4 of Directive (EU) 2016/1164, Member States shall ensure that the taxpayer be entitled to deduct only the lower of the two amounts in the tax period. The difference between the two amounts (a) and (b) shall be carried forward or back in accordance with Article 4 of Directive (EU) 2016/1164. _________________ 35 Council Directive (EU) 2016/1164 of 12 July 2016 laying down rules against tax avoidance practices that directly affect the functioning of the internal market (OJ L 193, 19.7.2016, p. 1).
Amendment 108 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2