The Supreme Administrative Court of Finland recently issued a ruling regarding the treatment of a third-party external loan backed by a parent company loan under the interest deduction limitation rules, as well as the treatment of related exchange gains and losses. The ruling concerned a Finnish real estate company that took out an external loan of EUR 102 million from a third party, which was secured by, among other things, real estate owned by the company, shares in other real estate companies, and loan receivables from real estate companies. In addition, an intra-group loan of EUR 62 million from the...