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Debt-interest deduction requires prior apportionment under Art. 40 LCP

ATA/661/1998Corte di giustizia / Camera amministrativa20 ott 1998Confirmed

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Estratto da Omnilex

Sintesi Omnilex

The court held that Art. 21 lit. e LCP governs the calculation of taxable income but cannot be applied in isolation. It presupposes the existence of wealth-tax elements, namely assets and debts, and therefore requires first determining which debts are deductible. If assets are located in several cantons, the allocation under Art. 40 LCP must be carried out first so that the share of debt interest attributable to Geneva is known. Only then may the limitation in Art. 21 lit. e LCP be applied.

Massima Omnilex

Art. 21 lit. e LCP; Art. 40 LCP; debt-interest deduction in inter-cantonal taxation: the limitation on deductible debt interest is not an autonomous rule of income calculation. It presupposes a prior determination of deductible debts, which, where assets are situated in several cantons, requires apportionment under Art. 40 LCP. The territorial allocation of debt and interest must therefore precede the application of the deduction cap; only the Geneva share as resulting from Art. 40 LCP may then be subjected to the limitation of Art. 21 lit. e LCP.

Testo completo

Descripteurs

IMPOT; FIN

Normes

LCP.40

Résumé

"L'art.21 litt.e LCP ne concerne que le calcul du revenu, mais ne trouve application qu'en présence d'éléments de l'impôt sur la fortune, à savoir des actifs et des dettes. Même en dehors de tout problème intercantonal, cette disposition implique de prendre en compte d'abord l'existence de dettes, dont découlent ensuite, cas échéant, les intérêts déductibles. En d'autres termes, il n'est possible de mettre en oeuvre l'art.21 litt.e LCP que lorsqu'on a répondu à la question de savoir quelles dettes sont déductibles dans l'impôt sur la fortune. Cette question ne trouve elle-même de réponse, lorsque des biens sont situés dans plusieurs cantons, qu'après application de l'art.40 LCP. Il convient donc tout d'abord de procéder à la répartition de l'art.40 LCP, afin de connaître la quote-part des intérêts des dettes qui doivent être localisés à Genève, puis d'appliquer au montant ainsi obtenu la limitation prévue par l'art.21 litt.4 LCP."

Parole chiave

taxationdebt interestinter-cantonal apportionmentdeduction limitwealth taxincome calculation

Estratto da Omnilex

Questioni giuridiche chiave estratte da Omnilex

Questione giuridica chiave

Whether Art. 21 lit. e LCP can be applied before determining the inter-cantonal apportionment of debts under Art. 40 LCP.

Decisione estratta

Art. 21 lit. e LCP applies only after identifying the deductible debts and, in inter-cantonal cases, after apportioning them under Art. 40 LCP.

Motivazione estratta

The provision concerns income calculation but presupposes assets and debts relevant to wealth tax. One must first determine which debts are deductible; only then can the corresponding deductible interest be calculated. Where assets are located in several cantons, that debt allocation must be carried out under Art. 40 LCP before the limitation in Art. 21 lit. e LCP is applied.

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