Jowita Pustuł
Zagadnienia podatkowe związane z finansowaniem grupy kapitałowej – umowy o kredyt parasolowy
Summary
Finding proper sources of financing is an important element of the business strategy. Some corporate groups decide to receive financing from external sources including umbrella loan agreements with unrelated financial institutions. Acquiring financing as a group of companies allows related parties to obtain funds from banks under more favorable conditions than would be possible for each of them on a stand-alone basis. Under umbrella agreements, banks provide funding to a group of companies on the condition that all group members are jointly and severally liable for the full amount of the credit facility. The obligation to pay jointly and severally may have tax implication for related parties. The author examines Dutch case on intercompany loan and its practical implications, focusing on the transfer pricing perspective.
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Key words: umbrella loan agreement, corporate groups, the arm's length principle, liability, guarantee