The EU Savings Directive (ESD): Taxation of Savings Income in the Form of Interest Payments (2003/48/EC, June 2003)

7 Pages Posted: 1 Nov 2008

See all articles by Arvind Ashta

Arvind Ashta

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté

Date Written: January 31, 2007

Abstract

This is a paper explaining the EU Directive on Taxation of inter-State interest on savings. It concerns situations where the savings of an EU resident are placed in another member-State. The majority of EU States would like information disclosure so that they can tax the income received according to their self determined rates, usually a part of the progressive income tax. They can also use the information to question how the depositor earned the money. Therefore, States which receive a lot of savings inflows would like to continue to do so and would like to offer confidentiality. They prefer to levy a withholding tax on interest paid and share in with the state of residence.

Suggested Citation

Ashta, Arvind, The EU Savings Directive (ESD): Taxation of Savings Income in the Form of Interest Payments (2003/48/EC, June 2003) (January 31, 2007). Available at SSRN: https://ssrn.com/abstract=1293191 or http://dx.doi.org/10.2139/ssrn.1293191

Arvind Ashta (Contact Author)

CEREN EA 7477 Burgundy School of Business - Université Bourgogne Franche-Comté ( email )

29 rue Sambin
21000 Dijon
France

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