On 25 May 2012, the Spring Memorandum 2012 was presented to the parliament. In addition to providing an overview of the changes relative to the 2012 Budget, it contains further details on the fiscal measures agreed upon in the Lower House for the 2013 Budget. The main additions and changes to the agreement are summarized below: Corporate taxation In regard to the restriction of interest deductibility for participations, it is proposed to introduce a restriction on the deductibility of interest related to a participation in a subsidiary. The restriction would only apply in cases where there is "excess interest", i.e. if...