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SAVINGS DIRECTORY (Effective 1 July 2005)

SAVINGS DIRECTORY (Effective 1 July 2005). Savings Directory.

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SAVINGS DIRECTORY (Effective 1 July 2005)

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  1. SAVINGS DIRECTORY(Effective 1 July 2005)

  2. Savings Directory The directory must prevent that income from savings of EU-inhabitants will be left out of taxation. The eventual aim is that border crossed interest payments effectively will be taxed in accordance with the national right of the EU member of the receiver.

  3. Savings Directory This will be achieved by automatic exchange of interest data among theEU-members.The savings directory is only applicable for private persons and not for companies and will be effective as per 1 July 2005, because of negotiations with Switzerland.

  4. Malta The Netherlands Poland Portugal Slovakia Spain Sweden United Kingdom Anguilla Aruba Cayman Islands Montserrat The following countries have chosen for exchange of informationinstead of withholding tax: • Cyprus • Czech Republic • Denmark • Germany • Estonia • Finland • France • Greece • Hungary • Ireland • Italy • Latvia • Lithuania

  5. San Marino British Virgin islands Guernsey Isle of Man Jersey Netherlands Antilles Turk and Caicos Islands The following countries (territories) have chosen for withholding tax instead of exchange of information:Note: The withholding tax is temporarily. • Belgium • Luxemburg • Austria • Switzerland • Andorra • Liechtenstein • Monaco

  6. Savings Directory The withholding tax will be the first three years 15%. As of 2008, 20% and as of the year 2011, 35%.75% of the revenues of this withholding tax have to flow back to the receiving party, while the remaining 25% will be kept by the withholding EU member state.

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