The European Economic and Social Committee (EESC) has published its opinion on the European Commission's Proposal for a Council Directive introducing a debt-equity bias reduction allowance (DEBRA). As previously reported, the allowance is meant to incentivize equity investment, rather than debt, by providing that increases in a taxpayer's equity from one tax year to the next will be deductible from its taxable base, similar to what happens with debt. The allowance would be computed based on the difference between net equity at the end of the current tax year and net equity at the end of the previous tax year,...