Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-14-Speech-4-104"
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"en.20020314.6.4-104"2
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".
Taxation on savings has always been a hotly debated issue. There are some who support a withholding tax, implemented as a tax levied at source which settles the tax position of the person concerned. The other, which is certainly more up to date, is the information system: in this case people do not settle their own tax liability because it will be subject to a subsequent levy on their income tax return.
From the point of view of fairness, the second method certainly provides the Community with a guarantee that the income, whatever it may be, is taxed in its entirety. However, this method is only fair if applied by everyone. As soon as one country decides not to adopt it, for historical or opportunistic reasons, the structure that has been built upon it is blown apart.
All this applies to the Pérez Royo report, which has taken the information method as the basis for taxation on cross-border savings. For this directive to work effectively, it must be implemented when the third countries adopt it.
Therefore, agreement with the third countries is a
for this directive to enter into force. Implementation without an agreement would cause a disturbance in the savings market, the negative effects of which cannot yet be readily assessed."@en1
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