This paper assesses the prospects of a 2021 time bomb in small and medium-sized enterprises (SME) failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 time bomb for SMEs. Rather, business...

This book chapter analyses the policy rationale and interpretation issues arising from 1) the general interest deduction limitation rule envisaged in the Spanish Corporate Income Tax Act (article 16 CITA), which is aligned with the BEPS action 4 proposal to limit base erosion involving interest...

This book investigates the taxation of companies under economic and financial distress. A company in economic distress has no or low profitability and a low going-concern value. On the other hand, a company in financial distress is a viable entity with current, but not necessarily long-term,...