Deductibility of interest and other financing charges in computing income Déductibilité fiscale des intérêts et autres charges financières Die Abzugsfähigkeit von Zinsen und anderen Finanzierungskosten bei der Berechnung des Einkommens Deducibilidad de los intereses y otros gastos financieros en la deternimación de la renta
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Deductibility of interest and other financing charges in computing income = Déductibilité fiscale des intérêts et autres charges financières = Die Abzugsfähigkeit von Zinsen und anderen Finanzierungskosten bei der Berechnung des Einkommens = Deducibilidad de los intereses y otros gastos financieros en la deternimación de la renta
（Cahiers de droit fiscal international = Studies on international fiscal law = Schriften zum internationalen Steuerrecht, 79a）
Kluwer , International Fiscal Association, c1994
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Texts in English, French, German, and Spanish
48th Congress of the International Fiscal Association, Toronto 1994, subject I
Description and Table of Contents
Description
This edition of the IFA Cahiers concerns the degree to which interest and similar financing charges may be used for deductibility purposes. In computing income tax the question arises which expenses may be deducted from our income. In principle, the distinction between income earning expenses and expenses incurred for personal consumption is important. In a balanced income tax system the first are deductible while the latter are not. Interest plays an important role as an example of a financing charge which is often deductible. In this sense, much depends on the way interest is defined as well as each country's specific tax system. In the Netherlands, for example, interest may always be deducted even when it is used to finance personal consumption. Besides a general report discussing the central theme, national reports from a great number of countries have been included: Brazil, China, Mexico, Hong Kong, Netherlands, USA , South Africa and Switzerland, among others.
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