OFFICIALS TRY TO ERASE KEY EU TAX LOOPHOLE
June 8th, 2014
EUROPEAN Union (EU) finance ministry officials are trying to close a loophole that has allowed corporate groups to exploit mismatches between national tax rules to avoid paying taxes on certain types of profits – called ‘hybrid loans’ - distributed within member companies. These can sometimes be considered a tax deductible cost in the lender country and a tax exempt divided in the borrower country. The EU’s Greek presidency hoped to secure agreement on reforming the problem by June 20. ...
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