EU Savings Tax Directive to be repealed?
October 17th, 2014
The EU Savings Tax Directive (EUSTD) has been the EU’s flagship transparency initiative since its introduction in 2003, and we have written about it on many occasions. It complements another EU transparency scheme called the Directive on Administrative Co-operation, which was beefed up this week, as the Wall St. Journal reported:
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“European Union finance ministers agreed Tuesday on a far-reaching crackdown on tax evasion that will bring the bloc’s standards on par with global rules by 2017, although Austria is getting an extra year to build up a data-exchange system with its banks.”The DAC currently covers only EU Member states, while the EUSTD is extended by agreement...