文章:DEBRA指令及其与第二支柱的相互作用

IF 1.2 Q2 LAW
Intertax Pub Date : 2022-10-01 DOI:10.54648/taxi2022097
Dieter Bettens
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引用次数: 0

摘要

债务-股本偏差减少津贴(DEBRA)指令旨在减少寻求投资的公司对债务的扭曲性偏见。为实现这一目标,采取了两项措施,即从资本中扣除视同利息费用(DEBRA)和进一步限制扣除实际利息费用。前者力求提高股权投资的吸引力,而后者则力求降低债务投资的吸引力。虽然这些措施最初似乎是适当的,但另一项被称为支柱2指令的立法倡议可能会破坏其有效性。事实上,该指令试图对大型实体在任何地方经营的利润征收15%的最低税率。虽然不常见,但DEBRA可能会将有效税率(ETR)降低到15%以下,从而实现最低税率。利息费用的有限扣除可能会起到相反的作用,将ETR提高到15%以上,从而防止这种最低税。因此,在DEBRA指令提供好处的地方,第二支柱指令可能会消除它,在DEBRA指令引入缺点的地方,第二支柱指令可能会中和它。DEBRA,第二支柱,最低税收,债务-股权偏见,欧盟,债务-股权偏见减少津贴,税收优惠,资本市场联盟,限制利息扣除,ATAD。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Article: The DEBRA Directive and Its Interplay With Pillar 2
The Debt-Equity Bias Reduction Allowance (DEBRA) directive seeks to reduce the distortionary bias towards debt on the part of companies seeking investment. Two measures are introduced to achieve this, i.e., the deduction of a deemed interest expense on capital (DEBRA) and the further restriction of the deductibility of actual interest expense. The former seeks to promote the attractiveness of equity investments while the latter endeavours to reduce the attractiveness of debt investments. While these measures initially appear to be appropriate, another legislative initiative known as the Pillar 2 directive might undermine its effectiveness. Indeed, this directive attempts to impose a minimum tax rate of 15% on large entities’ profits wherever they operate. While uncommon, the DEBRA might reduce the effective tax rate (ETR) below 15% thereby effectuating the minimum tax. The limited deductibility of interest expense might do the opposite and increase the ETR above 15% thereby preventing such minimum tax. Thus, where the DEBRA directive provides a benefit, the Pillar 2 directive might eliminate it and, where the DEBRA directive introduces a disadvantage, the Pillar 2 directive may neutralize it. DEBRA, Pillar 2, minimum taxation, debt-equity bias, EU, debt-equity bias reduction allowance, tax incentives, Capital Markets Union, limitation on interest deductibility, ATAD.
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来源期刊
Intertax
Intertax LAW-
CiteScore
0.80
自引率
50.00%
发文量
45
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