On 26 January 2007, the Danish Minister of Taxation announced that major amendments to the Danish tax law would be introduced following the judgment of the European Court of Justice (ECJ) in the case of Cadburry Schweppes (C-196/04). The amendments, which are intended to counter tax planning undertaken by buyout funds and to make the Danish controlled foreign company (CFC) rules compliant with EC law, are as follows: -   the corporate income tax rate would be reduced from 28% to 22%; -   total interest expenses would be deductible up to a maximum of 54%, subject to a maximum...