Friday, July 01, 2005

"saving" income across Europe

The EU Savings Directive became applicable today (is that good news?). So as the savings taxation agreements that the EU has concluded with Andorra, Liechtenstein, San Marino, Monaco and Switzerland and the ten dependent and associated territories of the UK and the Netherlands. To explain more about the application of such directive and to break the distance between taxpayers and the EU, the EU Commission has so kindly published a Q&A on the Savings Taxation just on the day before the Directive enters into force!

It is always good to see that the EU works so efficiently and protects its citizens from the ignorance of not knowing what the savings directive is about! Perhaps the Commission should add to its website some names of Swiss tax advisors (I know at least one) that can help in arranging the tax affairs of an individual in such a way that you escape the scope of application of the Directive. But apparently this arrangement costs money (but if you have money in Switzerland, Liechtenstein or whatever "high tax" jurisdiction, who cares if it costs! you just prefer paying the advisor than the government...) Right?

But if you are still interested in the EU frequently asked questions you can access them by clicking here.

PS: Please don't ask me the name of the Swiss tax advisor (I am not allowed to reveal my sources).


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