The Greek Public Revenue Authority (AADE) recently published Circular Ε. 2004 of 11 January 2021, providing clarification on the application of the interest deduction limitation rules as amended from 1 January 2019. The rules include a 30% of EBITDA restriction with a standard safe harbor threshold of EUR 3 million in line with the EU Anti-Tax Avoidance Directive (ATAD). The main points of the Circular are as follows:
- The limitation applies for "excess borrowing costs" and not "excess inter…