Commentary

A6.1205 EU savings directive

Administration and compliance

A6.1205 EU savings directive

A6.1205 EU savings directive

This anti-avoidance measure1 aimed to counter cross border tax evasion by requiring EU Member States to automatically disclose information on savings income paid in circumstances where the recipient of the interest was resident outside the Member State in which the paying institution was situated, thus increasing the routine communication to and from Member States, in the form of both requests for assistance and disclosure of intelligence. It was repealed on 10 November 2015 and replaced by the Directive on Administrative Cooperation (DAC) from 1 January 2016. The DAC is no longer applicable following the end of

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