On 18 December 2014, Austria's Federal Council approved the 2nd Tax Law Amendment Act 2014. The Act includes minor amendments and clarifications of tax laws. One of the main clarifications concerns the restrictions on the deductibility of interest and royalty payments as introduced in the 1st Tax Law Amendment Act 2014. Under the restriction introduced in the 1st Act, from 1 March 2014, interest and royalty payments to resident or non-resident corporate entities that are directly or indirectly part of the same group or directly or indirectly controlled by the same shareholder are not deductible if the income from such...