Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-25-Speech-2-655-000"
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"en.20111025.32.2-655-000"2
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"Madam President, having taken part in them for so long, I am very aware that the debates and discussions around taxation on savings in Europe tend to be fairly emotive, with prejudices prevailing rather than objective analysis. Consequently, it has always been deemed good form to speak out against withholding tax, which works, and to laud the system of exchanging information, which has failed in so many cases.
As I see it, far from setting a dangerous precedent for the Savings Directive, the bilateral agreements between Switzerland and Germany and between Switzerland and the United Kingdom constitute a promising starting point for finally putting an end to the quarrelling and talking at cross purposes, which has gone on far too long.
The new system that is taking shape would actually apply a withholding tax to a far broader tax base at rates agreed by the two parties. This effectively means taxing interest income and capital revenues in accordance with the tax system in the State of origin. The upshot would be that the revenue services in the State of origin would receive far more than they do at present. In these times of austerity, finance ministers should be the first to welcome any such move. Its commonsensical arguments lead me to think that what can be done with third countries should also be feasible within the European Union.
Commissioner, why not apply this system across the board, in the name of efficiency, since withholding tax produces good results? Let us apply the system across the board, ladies and gentlemen, given that taxpayers would then be taxed entirely in line with the tax system in their country of origin.
So, unlike my colleagues, I am arguing in favour of a dispassionate analysis of the facts. Although the bilateral agreements seem to me to be compatible with the Savings Directive, given that they have not contravened any of its provisions, I do recognise that the directive needs to be amended. So let us proceed on a sound basis."@en1
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