Savings Directive

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Directive 2003/48/EC
European Union directive
TitleCouncil Directive on taxation of savings income in the form of interest payments
Made byCouncil of the EU
Made underArt. 94
Journal referenceL 157, 2003-06-26, p. 38
History
Date made2003-06-03
Came into force2005-07-01
Preparative texts
Commission proposalC 270 E, 2001-09-25, p. 259
EESC opinionC 48, 2002-02-21, p. 55
EP opinionC 47 E, 2003-02-27, p. 553
Other legislation
Replaced byDirective 2014/107/EU
Repealed

The European Union Savings Directive (EUSD), formally Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, was a directive of the European Union enacted to implement the European Union withholding tax, requiring member states to provide other member states with information on interest paid to achieve effective taxation of the payments in the member state where the taxpayer is resident for tax purposes.[1]

It was an anti-tax evasion measure, similar to FATCA.[2] It was repealed on 10 November 2015, in favor of Directive 2014/107/EU.[3]

See also[edit]

References[edit]

  1. ^ "European Union Savings Directive (EUSD): exchange of information and withholding tax - GOV.UK". www.gov.uk. Retrieved 6 November 2017.
  2. ^ Zucman, Gabriel (2015). The Hidden Wealth of Nations. United States of America: University of Chicago Press. pp. 62 to 73. ISBN 978-0-226-24542-3.
  3. ^ "Repeal of the Savings Directive in line with international and EU developments". Taxation and Customs Union. European Commission. 13 September 2016. Retrieved 25 January 2021.

External links[edit]