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Legal bases

This page provides an overview of the legal bases at EU level for the taxation of savings income.

The Directive:

  • Council Directive 2003/48/ECpdfSavings directive eurlex of 3 June 2003 on taxation of savings income in the form of interest payments.
  • Conclusion of the ECOFIN Council meeting of 26 May 2008, 'List of statisticspdf – disclosure of statistics'.
  • Conclusions unanimously adopted by the Council on 12 April 2005, PRES/05/77 pages 12 and 13.
  • Council Decision 2004/587/ECpdf of 19 July 2004 on the date of application of Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments.
  • Text of the Proposal (COM(2001) 400 of 18 July 2001 ) for a Council Directive to ensure effective taxation of savings income in the form of interest payments within the Community.
  • The 2001 proposal is summarised in the Press Release IP/01/1026 Choose translations of the previous link  ; while the most frequently asked questions are answered in MEMO/01/266 Choose translations of the previous link  .
  • Conclusions unanimously adopted by the Council on 26 and 27 November 2000 (see the Council press release 13861/00 Presse 453) concerning the content of the Directive.
  • Presidency conclusions of 19 and 20 June 2000

The EC agreements:

  • Council Decision (2004/911/EC) of 2 June 2004 on the signing and conclusion of the Agreement between the European Community and the Swiss Confederation providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the accompanying Memorandum of Understanding (see Official Journal L 385 of 29 December 2004, p.28)
  • Council Decision (2004/912/EC) of 25 October 2004 on the conclusion of the Agreement in the form of an Exchange of Letters between the European Community and the Swiss Confederation on the date of application of the Agreement between the European Community and the Swiss Confederation providing for measures equivalent to those laid down in Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments (see Official Journal L 385 of 29 December 2004, p.50)
  • Council Decision (2004/ 828/EC) of 2 November 2004 concerning the signature of the Agreement between the European Community and the Principality of Andorra providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the approval and signature of the accompanying Memorandum of Understanding (see Official Journal L 359 of 4 December 2004, p.32)
  • Council Decision (2004/897/EC) of 29 November 2004 on the signing of the Agreement between the European Community and the Principality of Liechtenstein providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the approval and signing of the accompanying Memorandum of Understanding (see Official Journal L 379 of 24 December 2004, p.83)
  • Council Decision (2004/903/EC) of 29 November 2004 on the signing of the Agreement between the European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the approval and signing of the accompanying Memorandum of Understanding (see Official Journal L 381 of 28 December 2004, p.32).
  • Council Decision of 7 December 2004 on the signing of the Agreement between the European Community and the Principality of Monaco providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the approval and signing of the accompanying Memorandum of Understanding see Official Journal L 019 of 21 January 2005, p.53).
  • Council Decisions of 22 December 2004 concerning the conclusion of the Agreements between the European Community and, respectively, the Principalities of Andorrapdf, Liechtenstein pdf(34 kB) Choose translations of the previous link  and Monaco pdf(37 kB) Choose translations of the previous link  and the Republic of San Marino pdf(35 kB) Choose translations of the previous link  providing for measures equivalent to those laid down in Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments.

The agreements/arrangements between each of the 28 EU Member States and each of the ten relevant dependent or associated territories of Member States:

  • Decision of the Representatives of the Governments of the Member States meeting within the Council of 27 November 2001 concerning the taxation of savings in Caribbean dependent or associated territories (see Official Journal L 314 of 30 November 2001, p.78)
  • These agreements are based on models which have been adopted by the Council High Level Group for each of the dependent or associated territories. Both the models and the individual agreements can be found on the Council website.