Examples of Savings Directive in a sentence
This is to prevent overlap between the Savings Directive and a new automatic exchange of information regime to be implemented under Council Directive 2011/16/EU on Administrative Cooperation in the field of Taxation (as amended by Council Directive 2014/107/EU).
The European Commission has proposed certain amendments to the Savings Directive which may, if implemented, amend or broaden the scope of the requirements described above.
I/We acknowledge that information relating to my/our holding of shares in the Company, and/or details of income arising from such holdings may be subject to disclosure to any relevant tax authority in accordance with the terms of the EU Taxation of Savings Directive (2003/48/EC) (the "ESD") and I/we hereby consent to such disclosure by the Administrator or any person deemed to be a paying agent for the purposes of the ESD (the "Paying Agent").
The changes will expand the range of payments covered by the EU Savings Directive, in particular to include additional types of income payable on securities.
It should also be noted the CRS replaces the EU Taxation on Savings Directive.