The European Parliament has announced that it has welcomed the European Commission's proposed anti tax avoidance directive ({News-2016-01-29/P/2- previous coverage}) in a resolution voted on 8 June 2016, with certain recommended changes/additions. The recommendations include:
- Setting a minimum tax rate of 15% on foreign income as part of the switch-over clause, with any difference between a lower foreign rate being payable;
- Limiting the deductibility of borrowing costs to 20% of EBITDA or EU…