Belgium's Federal Public Service (SPF) Finance has published guidance in a Q&A format on the application of the interest deduction restriction introduced as part of the implementation of the EU Anti-tax Avoidance Directive, which generally restricts the deduction of interest to 30% of EBITDA with effect from 1 January 2019. Some of the key points of the guidance include:
- Where the application of the restriction results in excess non-deductible borrowing costs, such excess costs may not b…