The European Union Savings Directive (EUSD), formally Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments, was a directive of the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

enacted to implement the

European Union withholding tax The European Union withholding tax is the common name for a withholding tax which is deducted from interest earned by European Union residents on their investments made in another member state, by the state in which the investment is held. The Eur ...

, requiring member states to provide other member states with information on interest paid to achieve effective taxation of the payments in the member state where the taxpayer is

resident for tax purposes The criteria for residence for tax purposes vary considerably from jurisdiction to jurisdiction, and "residence" can be different for other, non-tax purposes. For individuals, Physical presence test, physical presence in a jurisdiction is the main ...

. It was an anti-tax evasion measure, similar to

FATCA The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indication ...

. It was repealed on 10 November 2015, in favor of Directive 2014/107/EU.

References

External links

* European Union directives 2003 in law 2003 in the European Union {{EU-law-stub

See also

References

External links