Savings directive review
The EC proposes changes to the directive
(13 November 2008)
The European Commission has adopted an amending proposal to the Savings Taxation Directive (13 November 2008). The Commission proposal seeks to improve the Directive, so as to better ensure the taxation of interest payments in the EU. The most important proposed amendments refer to the definition of savings income, in order to include income equivalent to interest obtained through investments in some innovative financial products as well as in certain life insurances products. It is also proposed to extend the scope of the Directive to cover, under certain conditions, interest payments obtained by some entities and legal arrangements for the ultimate benefit of individual beneficial owners.
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• Text of the proposal >>