Press Release: Council adopts new rules on the taxation of savings income

On 24 March 2014, the Council of the European Union adopted a directive strengthening EU rules on the exchange of information on savings incomes, aimed at enabling the member states to better clamp down on tax fraud and tax evasion.

Directive 2003/48/EC requires the member states to exchange information automatically so as to enable interest payments made in one member state to residents of other member states to be taxed in accordance with the laws of the state of tax residence.

ESO: Background information: Statement by President of the European Council Herman Van Rompuy on savings taxation http://www.europeansources.info/record/press-release-statement-by-president-of-the-european-council-herman-van-rompuy-on-savings-taxation/

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