EU Council Announces March 2014 Adoption of Expanded EU Savings Directive
On Saturday, March 22, 2014 the EU Council’s General Secretariat announced that it will adopt major amendments to the EU Directive on taxation of savings income. That Monday, March 24, the EU Commission adopted amendments to expand the application of the EU Savings Directive. The amendments address the current loopholes, such as application to trusts, to foundations, and to investment income that is comparable to interest income. By January 2016 each EU State must adopt national legislation enacting the directive within its system, and implement the directive by January 1, 2017.
Brief Background on EU Savings Directive Read more