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Summary of Treaty


GENERAL DATA
Official Title 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
Type of Agreement Bilateral
Place of Signature Brussels
Date of Signature 07/12/2004
Date of Entry Into Force 01/06/2005
Duration Indefinite
Objective of Agreement To secure the adoption by the Republic of San Marino of measures equivalent to those to be applied by the European Community to ensure effective taxation of savings income in the form of interest payments.
Remarks The measures equivalent to those to be applied by the European Community to ensure effective taxation of savings income in the form of interest payments concern the retention and withholding of a predetermined rate of tax with revenue sharing; a procedure, optional for the beneficiary, based on voluntary disclosure of information; a mechanism for the exchange of information on request for all criminal or civil cases of fraud or similar misbehaviour on the part of taxpayers; and a review clause enabling the contracting parties to consult each other at least every three years or at the request of either contracting party with a view to improving the technical functioning of the agreement and taking into account international developments.
OJ Reference L381, 28/12/2004, p. 33
Depositary Council of the European Union
Contracting Parties European Community, San Marino
Authentic Texts Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Slovakian, Slovenian, Spanish, Swedish
Subject Matters San Marino
Taxation
interest
savings
tax on income
Clause(s)
Suspension Article 17 Agreement
Suspension Article 18 Agreement
Territorial application Article 19 Convention
EU PARTICIPATION
Conclusion Decision Council Decision 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; OJ L381 of 28/12/2004, p.32
Competence Exclusive
Legal Basis Treaty EC: Article 94


Last Update :   18/09/2007