ICC Policy Statement - Limitations of deductions of interest payments (2012)
Limitations of deductions of interest payments (February 2012)
Prepared by the ICC commission on : Taxation
Publication date : 21/05/2012 | Document Number : 180-520
ICC Policy Statement prepared by the ICC Commission on Taxation
The international business community would welcome a more favourable tax treatment of equity financing, thus reducing or eliminating the difference in the tax treatment of debt and equity financed investments and believes that legislative measures should not infringe upon conventional business transactions, ultimately resulting in double taxation.
Consequently, ICC strongly recommends that the limitations of interest deductions be applied only to truly abusive cases.
The statement has benefitted from the comments of commission members and National Committees.