Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-05-17-Speech-3-313"
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"en.20060517.21.3-313"2
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".
In connection with this question, I should like to point out that, on 3 June 2003, the Ecofin Council adopted the Directive on the taxation of savings. This Directive aims to ensure that cross-border savings income received by persons resident in the EU in the form of interest payments is either taxed in the Member State in which they are resident, or subject to a withholding tax in the Member State that is considered the source State.
In order to preclude distortions of competition with important financial centres outside the EU, the Directive also provides that the same or equivalent measures be applied by a series of territories and third countries. These include 10 dependent and associated territories, such as the Isle of Man, and five European countries, namely Andorra, Liechtenstein, Monaco, San Marino and Switzerland. The measures laid down in the Directive and the agreements concluded with the third countries and territories have been applied by all 40 contracting parties concerned since 1 July 2005. Extending the territorial scope of the Directive to other relevant financial centres is possible in principle.
On 1 December 1997, the Council adopted a Resolution on a code of conduct for business taxation, which deals with potentially harmful tax measures that affect, or may affect, in a significant way the location of business activity in the Community. Sixty-six tax measures in the old Member States and thirty in the new Member States have been classified as harmful by the Code of Conduct Group and largely phased out. The Code of Conduct Group is now focusing on its future work, on which the Council expects to receive a report in June."@en1
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