On 20 February 2008, the Federal Ministry of Finance published a draft letter on the application of the new rules limiting the deductibility of interest payments, and asked trade organizations and associations to submit their comments by 14 March 2008.
The draft letter contains definitions of various terms and explicit guidance on several aspects of the new rules, e.g. the calculation of the EBITDA, the treatment of interest carry-forward or hidden profit distr…