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[co-author: Yann Ricard] [1] clarifying the interest limitation rules introduced in Luxembourg legislation [2] in 2018, which implemented the European Union Anti-Tax Avoidance Directive 2016/1164 (ATAD 1). As a reminder, this legislation provides a limitation on the deduction of net financial costs referred to as exceeding borrowing costs (EBC). These rules limit the deductibility of borrowing costs to 30% of taxable EBITDA (Earnings before Interest, Tax, Impairments, Depreciation and Amortization). A de minimis rule allows the taxpayer to deduct EBC up to €3 million. Below are summarized the main points covered by the Circular: SCOPE OF THE INTEREST LIMITATION RULES The Circular confirms the law by providing that the interest limitation rules apply to resident companies and domestic permanent establishments of nonresident entities subject to Luxembourg corporate income tax, unless the taxpayer qualifies as stand-alone entity, financial undertaking, or if certain EU long-te

European union antiLuxembourg tax authoritiesEuropean union anti tax avoidance directiveIncome taxஐரோப்பிய தொழிற்சங்கம் எதிர்ப்புலக்ஸம்பர்க் வரி அதிகாரிகள்வருமானம் வரி