During its plenary session on Tuesday 16 January, the European Parliament adopted by 324 votes to 132 its opinion on the ‘DEBRA’ directive on an allowance to reduce the tax distortion in favour of indebtedness and on the limitation of interest deductibility for corporation tax purposes (see EUROPE B13302A22).
The text’s rapporteur, Luděk Niedermayer (EPP, Czech), felt that this initiative would benefit small and medium-sized enterprises (SMEs), as it would help them to become both...