# CE2010184EN.01048801.xml

| 8.7.2010 | EN | Official Journal of the European Union | CE 184/488 |
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8.7.2010

EN

Official Journal of the European Union

CE 184/488

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Friday 24 April 2009Taxation of savings income in the form of interest payments *

P6_TA(2009)0325

European Parliament legislative resolution of 24 April 2009 on the proposal for a Council directive amending Directive 2003/48/EC on taxation of savings income in the form of interest payments (COM(2008)0727 – C6-0464/2008 – 2008/0215(CNS))

2010/C 184 E/85

(Consultation procedure)

The European Parliament,

The European Parliament

having regard to the Commission proposal to the Council (COM(2008)0727),

having regard to Article 94 of the EC Treaty, pursuant to which the Council consulted Parliament (C6-0464/2008),

having regard to Rule 51 of its Rules of Procedure,

having regard to the report of the Committee on Economic and Monetary Affairs and the opinion of the Committee on Legal Affairs (A6-0244/2009),

| 1. | Approves the Commission proposal as amended; |
| --- | --- |

1.

Approves the Commission proposal as amended;

| 2. | Calls on the Commission to alter its proposal accordingly, pursuant to Article 250(2) of the EC Treaty; |
| --- | --- |

2.

Calls on the Commission to alter its proposal accordingly, pursuant to Article 250(2) of the EC Treaty;

| 3. | Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament; |
| --- | --- |

3.

Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

| 4. | Asks the Council to consult Parliament again if it intends to amend the Commission proposal substantially; |
| --- | --- |

4.

Asks the Council to consult Parliament again if it intends to amend the Commission proposal substantially;

| 5. | Instructs its President to forward its position to the Council and the Commission. |
| --- | --- |

5.

Instructs its President to forward its position to the Council and the Commission.

| TEXT PROPOSED BY THE COMMISSION | AMENDMENT |
| --- | --- |
| Amendment 26 |
| Proposal for a directive – amending act


  Recital 9 a (new) |
| | (9a) | In accordance with the ECOFIN Council conclusions of May 1999 and November 2000, the original choice to exclude all innovative financial products from the scope of Directive 2003/48/EC was accompanied by an express statement that this issue should be re-examined on the occasion of the first review of that Directive, with the aim of finding a definition covering all securities that are equivalent to debt claims so as to ensure the effectiveness of the Directive in a changing environment and to preventing market distortions. It is therefore appropriate to include all innovative financial products within the scope of the Directive. Accordingly the definition of interest payment should cover any revenue arising from the investment of capital where the return is fixed ex ante and the substance of the return arising from a transaction is similar to any interest income. In order to ensure a consistent interpretation of that provision throughout the Member States, the provision should be complemented by a list of the financial products concerned. The Commission should adopt that list in accordance with the regulatory procedure laid down in Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission (1). |

TEXT PROPOSED BY THE COMMISSION

AMENDMENT

Amendment 26

Amendment 26

Proposal for a directive – amending act

Proposal for a directive – amending act

Recital 9 a (new)

Recital 9 a (new)

(9a)

(9a)

In accordance with the ECOFIN Council conclusions of May 1999 and November 2000, the original choice to exclude all innovative financial products from the scope of Directive 2003/48/EC was accompanied by an express statement that this issue should be re-examined on the occasion of the first review of that Directive, with the aim of finding a definition covering all securities that are equivalent to debt claims so as to ensure the effectiveness of the Directive in a changing environment and to preventing market distortions. It is therefore appropriate to include all innovative financial products within the scope of the Directive. Accordingly the definition of interest payment should cover any revenue arising from the investment of capital where the return is fixed ex ante and the substance of the return arising from a transaction is similar to any interest income. In order to ensure a consistent interpretation of that provision throughout the Member States, the provision should be complemented by a list of the financial products concerned. The Commission should adopt that list in accordance with the regulatory procedure laid down in Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission (1).

In accordance with the ECOFIN Council conclusions of May 1999 and November 2000, the original choice to exclude all innovative financial products from the scope of Directive 2003/48/EC was accompanied by an express statement that this issue should be re-examined on the occasion of the first review of that Directive, with the aim of finding a definition covering all securities that are equivalent to debt claims so as to ensure the effectiveness of the Directive in a changing environment and to preventing market distortions. It is therefore appropriate to include all innovative financial products within the scope of the Directive. Accordingly the definition of interest payment should cover any revenue arising from the investment of capital where the return is fixed ex ante and the substance of the return arising from a transaction is similar to any interest income. In order to ensure a consistent interpretation of that provision throughout the Member States, the provision should be complemented by a list of the financial products concerned. The Commission should adopt that list in accordance with the regulatory procedure laid down in Council Decision 1999/468/EC of 28 June 1999 laying down the procedures for the exercise of implementing powers conferred on the Commission (1

Amendment 1

Amendment 1

Proposal for a directive – amending act

Proposal for a directive – amending act

Recital 10 a (new)

Recital 10 a (new)

| (10a) | The Community should promote global tax governance, in line with the Council conclusions of 23 October 2006, which invited the Commission to explore the possibility of negotiating specific agreements with Hong Kong, Macao and Singapore on savings tax with a view to concluding an international agreement on the application of equivalent measures to those applied by Member States under Directive 2003/48/EC. |
| --- | --- |

(10a)

(10a)

The Community should promote global tax governance, in line with the Council conclusions of 23 October 2006, which invited the Commission to explore the possibility of negotiating specific agreements with Hong Kong, Macao and Singapore on savings tax with a view to concluding an international agreement on the application of equivalent measures to those applied by Member States under Directive 2003/48/EC.

The Community should promote global tax governance, in line with the Council conclusions of 23 October 2006, which invited the Commission to explore the possibility of negotiating specific agreements with Hong Kong, Macao and Singapore on savings tax with a view to concluding an international agreement on the application of equivalent measures to those applied by Member States under Directive 2003/48/EC.

Amendment 2

Amendment 2

Proposal for a directive – amending act

Proposal for a directive – amending act

Recital 12 a (new)

Recital 12 a (new)

| (12a) | The Council Conclusions of 21 January 2003 considered that the United States of America applies measures equivalent to those provided for in Directive 2003/48/EC. However, it is appropriate to bring within the scope of Annex I of Directive 2003/48/EC certain legal forms and arrangements in order to ensure effective taxation. |
| --- | --- |

(12a)

(12a)

The Council Conclusions of 21 January 2003 considered that the United States of America applies measures equivalent to those provided for in Directive 2003/48/EC. However, it is appropriate to bring within the scope of Annex I of Directive 2003/48/EC certain legal forms and arrangements in order to ensure effective taxation.

The Council Conclusions of 21 January 2003 considered that the United States of America applies measures equivalent to those provided for in Directive 2003/48/EC. However, it is appropriate to bring within the scope of Annex I of Directive 2003/48/EC certain legal forms and arrangements in order to ensure effective taxation.

Amendment 3

Amendment 3

Proposal for a directive – amending act

Proposal for a directive – amending act

Recital 13 a (new)

Recital 13 a (new)

| (13a) | In reviewing the operation of Directive 2003/48/EC, the Commission should pay specific attention to certain types of capital income, such as income derived from life assurance products, annuities, swaps, and certain pensions, which are not yet within the scope of that Directive. |
| --- | --- |

(13a)

(13a)

In reviewing the operation of Directive 2003/48/EC, the Commission should pay specific attention to certain types of capital income, such as income derived from life assurance products, annuities, swaps, and certain pensions, which are not yet within the scope of that Directive.

In reviewing the operation of Directive 2003/48/EC, the Commission should pay specific attention to certain types of capital income, such as income derived from life assurance products, annuities, swaps, and certain pensions, which are not yet within the scope of that Directive.

Amendment 4

Amendment 4

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point -1 (new)

Article 1 – point -1 (new)

Directive 2003/48/EC

Recital 8

| (-1) | Recital 8 is replaced by the following:










  ‘(8) | This Directive has a dual purpose: to enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of their Member State of residence, and to ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’ |
| --- | --- | --- |

(-1)

(-1)

Recital 8 is replaced by the following:

Recital 8 is replaced by the following:

‘(8)

‘(8)

This Directive has a dual purpose: to enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of their Member State of residence, and to ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’

This Directive has a dual purpose: to enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of their Member State of residence, and to ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’

Amendment 5

Amendment 5

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point -1 a (new)

Article 1 – point -1 a (new)

Directive 2003/48/EC

Recital 19

| (-1a) | Recital 19 is replaced by the following:










  ‘(19) | Member States levying withholding tax should transfer most of the revenue they obtain from that withholding tax to the Member State of residence of the beneficial owner of the interest. The part of the revenue that the Member States concerned are able to withhold should be proportional to the administrative costs incurred in handling the revenue-sharing mechanism, taking into account the costs that would be incurred in exchanging information.’ |
| --- | --- | --- |

(-1a)

(-1a)

Recital 19 is replaced by the following:

Recital 19 is replaced by the following:

‘(19)

‘(19)

Member States levying withholding tax should transfer most of the revenue they obtain from that withholding tax to the Member State of residence of the beneficial owner of the interest. The part of the revenue that the Member States concerned are able to withhold should be proportional to the administrative costs incurred in handling the revenue-sharing mechanism, taking into account the costs that would be incurred in exchanging information.’

Member States levying withholding tax should transfer most of the revenue they obtain from that withholding tax to the Member State of residence of the beneficial owner of the interest. The part of the revenue that the Member States concerned are able to withhold should be proportional to the administrative costs incurred in handling the revenue-sharing mechanism, taking into account the costs that would be incurred in exchanging information.’

Amendment 6

Amendment 6

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point -1 b (new)

Article 1 – point -1 b (new)

Directive 2003/48/EC

Recital 24 a (new)

| (-1b) | The following recital is inserted:










  ‘(24a) | So long as Hong Kong, Singapore and other countries and territories listed in Annex I do not all apply measures identical or equivalent to those provided for in this Directive, capital flight towards those countries and territories could imperil the attainment of the objectives of this Directive. It is therefore necessary for the Community to take appropriate action in order to ensure that an agreement is reached with those countries and territories under which they will apply such measures.’ |
| --- | --- | --- |

(-1b)

(-1b)

The following recital is inserted:

The following recital is inserted:

‘(24a)

‘(24a)

So long as Hong Kong, Singapore and other countries and territories listed in Annex I do not all apply measures identical or equivalent to those provided for in this Directive, capital flight towards those countries and territories could imperil the attainment of the objectives of this Directive. It is therefore necessary for the Community to take appropriate action in order to ensure that an agreement is reached with those countries and territories under which they will apply such measures.’

So long as Hong Kong, Singapore and other countries and territories listed in Annex I do not all apply measures identical or equivalent to those provided for in this Directive, capital flight towards those countries and territories could imperil the attainment of the objectives of this Directive. It is therefore necessary for the Community to take appropriate action in order to ensure that an agreement is reached with those countries and territories under which they will apply such measures.’

Amendment 7

Amendment 7

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point -1 c (new)

Article 1 – point -1 c (new)

Directive 2003/48/EC

Article 1 – paragraph 1

| (-1c) | Article 1(1) is replaced by the following:




  ‘1.
     
  This Directive aims to:








  — | enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of the latter Member State; |
| --- | --- | --- |

(-1c)

(-1c)

Article 1(1) is replaced by the following:

Article 1(1) is replaced by the following:

‘1.
     
  This Directive aims to:

‘1.

This Directive aims to:

—

enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of the latter Member State;

enable savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to be made subject to effective taxation in accordance with the laws of the latter Member State;

| — | ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’ |
| --- | --- |

—

ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’

ensure a minimum of effective taxation of savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.’

Amendment 8

Amendment 8

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 1

Article 1 – point 1

Directive 2003/48/EC

Article 1 – paragraph 2

2.   Member States shall take the necessary measures to ensure that the tasks necessary for the implementation of this Directive are carried out by paying agents established within their territory, irrespective of the place of establishment of the debtor of the debt claim, or the issuer of the security, producing the interest payment.

2.   Member States shall take the necessary measures to ensure that the tasks necessary for the implementation of this Directive are carried out by
  economic operators and
  paying agents established within their territory, irrespective of the place of establishment of the debtor of the debt claim, or the issuer of the security, producing the interest payment.

economic operators and

Amendment 9

Amendment 9

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 2 – point a – subpoint i

Article 1 – point 2 – point a – subpoint i

Directive 2003/48/EC

Article 2 – paragraph 1 – introductory part

For the purposes of this Directive, and without prejudice to Article 4(2), ‘beneficial owner’ means any individual who receives an interest payment or any individual for whom such a payment is secured, unless he provides evidence that it was not received or secured for his own benefit, that is to say that:

1.   For the purposes of this Directive, and without prejudice to Article 4(2), ‘beneficial owner’ means any individual who receives
  or should have received
  an interest payment or any individual for whom such a payment is secured
  or should be secured
  , unless he provides evidence that it was not received or secured for his own benefit, that is to say that:

1.

or should have received

or should be secured

Amendment 10

Amendment 10

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 3

Article 1 – point 3

Directive 2003/48/EC

Article 3 – paragraph 2 – subparagraph 1 – point b

| (b) | for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004, the paying agent shall establish the identity of the beneficial owner, consisting of the name, address, date and place of birth and, if the beneficial owner has his address or otherwise proves to be resident for tax purposes in a Member State listed in Annex II, the tax identification number or equivalent allocated by that Member State. |
| --- | --- |

(b)

for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004, the paying agent shall establish the identity of the beneficial owner, consisting of the name, address, date and place of birth and, if the beneficial owner has his address or otherwise proves to be resident for tax purposes in a Member State listed in Annex II, the tax identification number or equivalent allocated by that Member State.

| (b) | for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004, the paying agent shall establish the identity of the beneficial owner, consisting of the name, address, date and place of birth and, if the beneficial owner has his address or otherwise proves to be resident for tax purposes in a Member State listed in Annex II, the tax identification number or equivalent allocated by that Member State
  , when that number or equivalent appears in the documentation presented for identification
  . |
| --- | --- |

(b)

for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004, the paying agent shall establish the identity of the beneficial owner, consisting of the name, address, date and place of birth and, if the beneficial owner has his address or otherwise proves to be resident for tax purposes in a Member State listed in Annex II, the tax identification number or equivalent allocated by that Member State
  , when that number or equivalent appears in the documentation presented for identification
  .

, when that number or equivalent appears in the documentation presented for identification

Amendment 11

Amendment 11

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 3

Article 1 – point 3

Directive 2003/48/EC

Article 3 – paragraph 2 – subparagraph 2

The details referred to in point (b) of the first subparagraph shall be established on the basis of
  the
  passport or of
  the
  official identity card or other official document listed in Annex II presented by the beneficial owner. Any such details which do not appear on
  that
  passport or on
  that
  official identity card or official document shall be established on the basis of any other official documentary proof of identity presented by the beneficial owner and issued by a public authority of the country where he has his address or otherwise proves to be resident for tax purposes.

the

the

that

that

The details referred to in point (b) of the first subparagraph shall be established on the basis of
  a
  passport or of
  an
  official identity card or other official document listed in Annex II presented by the beneficial owner. Any such details which do not appear on
  a
  passport or on
  an
  official identity card or
  on any other
  official document shall be established on the basis of any other official documentary proof of identity presented by the beneficial owner and issued by a public authority of the country where he has his address or otherwise proves to be resident for tax purposes.

a

an

a

an

on any other

Amendment 12

Amendment 12

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 3

Article 1 – point 3

Directive 2003/48/EC

Article 4 – paragraph 2 – subparagraph 2

For the purpose of the first subparagraph a legal arrangement shall be considered to have its place of effective management in the country where the person who primarily holds legal title and primarily manages its property
  and
  income has his or its permanent address.

and

For the purpose of the first subparagraph a legal arrangement shall be considered to have its place of effective management in the country where the person who primarily holds legal title and primarily manages its property
  or
  income has his or its permanent address.

or

Amendment 13

Amendment 13

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 3

Article 1 – point 3

Directive 2003/48/EC

Article 4 – paragraph 2 – subparagraph 7

Any economic operator making an interest payment to, or securing an interest payment for, an entity or legal arrangement included in the list set out in Annex III shall communicate to the competent authority of its Member State of establishment the name and place of effective management of the entity, or in the case of a legal arrangement, the name and the permanent address of the person who primarily holds legal title and primarily manages the property
  and
  income of the legal arrangement, and the total amount of interest paid to, or secured for, the entity or legal arrangement. Where the place of effective management of the entity or legal arrangement is located in another Member State, the competent authority shall pass this information on to the competent authority of that other Member State.

and

Any economic operator making an interest payment to, or securing an interest payment for, an entity or legal arrangement included in the list set out in Annex III shall communicate to the competent authority of its Member State of establishment the name and place of effective management of the entity, or in the case of a legal arrangement, the name and the permanent address of the person who primarily holds legal title and primarily manages the property
  or
  income of the legal arrangement, and the total amount of interest paid to, or secured for, the entity or legal arrangement. Where the place of effective management of the entity or legal arrangement is located in another Member State, the competent authority shall pass this information on to the competent authority of that other Member State.

or

Amendment 14

Amendment 14

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 3

Article 1 – point 3

Directive 2003/48/EC

Article 4 – paragraph 3

‘3.
     
  Those entities and legal arrangements referred to in paragraph 2 to whose assets or income no beneficial owner is immediately entitled at the moment of receipt of an interest payment shall have the option of being treated for the purposes of this Directive as an undertaking for collective investment or other collective investment fund or scheme as referred to in point (a) of paragraph 2.

Where an entity or legal arrangement exercises that option, the Member State in which it has its place of effective management shall issue a certificate to that effect. The entity or legal arrangement shall present that certificate to the economic operator making or securing the interest payment.

Member States shall lay down the detailed rules concerning this option for entities and legal arrangements which have their place of effective management in their territory and shall ensure that the entity or legal arrangement having exercised this option acts as paying agent in accordance with paragraph 1, up to the total amount of the interest payments received, on each occasion that a beneficial owner becomes immediately entitled to its assets or income.’

deleted

deleted

Amendment 27

Amendment 27

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EC

Article 6 – paragraph -1 (new)

-1.
     
  Without prejudice to the provisions laid down in the following paragraphs of this Article, the general principle under this Directive is that ‘interest payment’ means any revenue arising from the investment of capital where the return is fixed ex ante and the substance of the return arising from a transaction is similar to any interest income. In order to ensure a consistent interpretation of this provision throughout the Member States, it shall be complemented by a list of the financial products concerned. The Commission shall adopt this list by ... [the date specified in Article 2(1) of Council Directive 2009/.../EC amending Directive 2003/48/EC on taxation of savings income in the form of interest payments] in accordance with the regulatory procedure referred to in Article 18b(2) of this Directive.

-1.

Without prejudice to the provisions laid down in the following paragraphs of this Article, the general principle under this Directive is that ‘interest payment’ means any revenue arising from the investment of capital where the return is fixed ex ante and the substance of the return arising from a transaction is similar to any interest income. In order to ensure a consistent interpretation of this provision throughout the Member States, it shall be complemented by a list of the financial products concerned. The Commission shall adopt this list by ... [the date specified in Article 2(1) of Council Directive 2009/.../EC amending Directive 2003/48/EC on taxation of savings income in the form of interest payments] in accordance with the regulatory procedure referred to in Article 18b(2) of this Directive.

Amendment 15

Amendment 15

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EC

Article 6 – paragraph 1 – point c – subpoint ii

| (ii) | entities or legal arrangements having exercised the option under Article 4(3); |
| --- | --- |

(ii)

(ii)

entities or legal arrangements having exercised the option under Article 4(3);

entities or legal arrangements having exercised the option under Article 4(3);

deleted

deleted

Amendment 16

Amendment 16

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EC

Article 6 – paragraph 1 – point d – subpoint ii

| (ii) | entities or legal arrangements having exercised the option under Article 4(3); |
| --- | --- |

(ii)

(ii)

entities or legal arrangements having exercised the option under Article 4(3);

entities or legal arrangements having exercised the option under Article 4(3);

deleted

deleted

Amendment 35

Amendment 35

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EG

Article 6 – paragraph 1 – point e

| (e) | benefits from a life insurance contract where the contract provides for a biometric risk coverage which, expressed as an average over the duration of the contract, is lower than
  5 %
  of the capital insured and its actual performance is fully linked to interest or income of the kinds referred to in points (a), (aa), (b), (c) and (d); for this purpose any difference between the amounts paid out pursuant to a life insurance contract and the sum of all the payments made to the life insurer under the same life insurance contract shall be considered benefits from life insurance contracts. |
| --- | --- |

(e)

benefits from a life insurance contract where the contract provides for a biometric risk coverage which, expressed as an average over the duration of the contract, is lower than
  5 %
  of the capital insured and its actual performance is fully linked to interest or income of the kinds referred to in points (a), (aa), (b), (c) and (d); for this purpose any difference between the amounts paid out pursuant to a life insurance contract and the sum of all the payments made to the life insurer under the same life insurance contract shall be considered benefits from life insurance contracts.

5 %

| (e) | in the case of insurance contracts
  :








  (i) | the difference between the insurance benefit and the sum of contributions paid in the event of the redemption of the contract in the case of endowment retirement insurance, where no lifelong pension is paid; |
| --- | --- | --- |

(e)

in the case of insurance contracts
  :

in the case of insurance contracts

(i)

(i)

the difference between the insurance benefit and the sum of contributions paid in the event of the redemption of the contract in the case of endowment retirement insurance, where no lifelong pension is paid;

the difference between the insurance benefit and the sum of contributions paid in the event of the redemption of the contract in the case of endowment retirement insurance, where no lifelong pension is paid;

| (ii) | benefits from a life insurance contract where the contract provides for a biometric risk coverage which, expressed as an average over the duration of the contract, is lower than
  10 %
  of the
  initial
  capital insured and its actual performance is linked to interest or
  its actual performance is expressed in or directly linked to units and more than 40 % of the underlying assets is invested in
  income of the kinds referred to in points (a), (aa), (b), (c) and (d).

  Where for a unit linked insurance contract a paying agent has no information concerning the percentage of the underlying assets invested in debt claims or the relevant securities, that percentage shall be deemed to be above 40 %.

  For this purpose any difference between the amounts paid out pursuant to a life insurance contract and the sum of all the payments made to the life insurer under the same life insurance contract shall be considered benefits from life insurance contracts.

  Where the underwriter of the contract, the insured person and the beneficiary are not identical, the biometric risk coverage is deemed to be lower than 10 %. |
| --- | --- |

(ii)

(ii)

benefits from a life insurance contract where the contract provides for a biometric risk coverage which, expressed as an average over the duration of the contract, is lower than
  10 %
  of the
  initial
  capital insured and its actual performance is linked to interest or
  its actual performance is expressed in or directly linked to units and more than 40 % of the underlying assets is invested in
  income of the kinds referred to in points (a), (aa), (b), (c) and (d).

10 %

initial

its actual performance is expressed in or directly linked to units and more than 40 % of the underlying assets is invested in

Where for a unit linked insurance contract a paying agent has no information concerning the percentage of the underlying assets invested in debt claims or the relevant securities, that percentage shall be deemed to be above 40 %.

For this purpose any difference between the amounts paid out pursuant to a life insurance contract and the sum of all the payments made to the life insurer under the same life insurance contract shall be considered benefits from life insurance contracts.

Where the underwriter of the contract, the insured person and the beneficiary are not identical, the biometric risk coverage is deemed to be lower than 10 %.

Amendment 36

Amendment 36

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EG

Article 6 – paragraph 1 – point e a (new)

| (ea) | income from structured products. Structured products are bonds for which the level of repayment obligations depends on developments in some form of agreed base value. The difference between the purchase cost and the revenue from the sale, refund or redemption of the structured product is also considered to be income; |
| --- | --- |

(ea)

(ea)

income from structured products. Structured products are bonds for which the level of repayment obligations depends on developments in some form of agreed base value. The difference between the purchase cost and the revenue from the sale, refund or redemption of the structured product is also considered to be income;

income from structured products. Structured products are bonds for which the level of repayment obligations depends on developments in some form of agreed base value. The difference between the purchase cost and the revenue from the sale, refund or redemption of the structured product is also considered to be income;

Amendment 37

Amendment 37

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EG

Article 6 – paragraph 1 – point e b (new)

| (eb) | dividends received by a credit institution or financial institution on behalf of the beneficial owner. |
| --- | --- |

(eb)

(eb)

dividends received by a credit institution or financial institution on behalf of the beneficial owner.

dividends received by a credit institution or financial institution on behalf of the beneficial owner.

Amendment 18

Amendment 18

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EC

Article 6 – paragraph 9

9.   Income referred to in point (aa) of paragraph 1 shall be considered to be an interest payment only to the extent to which the securities producing that income were first issued
  on or after 1 December 2008
  .

on or after 1 December 2008

9.   Income referred to in point (aa) of paragraph 1 shall be considered to be an interest payment only to the extent to which the securities producing that income were first issued
  six months after the date of publication of this Directive or later
  .

six months after the date of publication of this Directive or later

Amendment 19

Amendment 19

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 4

Article 1 – point 4

Directive 2003/48/EC

Article 6 – paragraph 10

10.   Benefits from life insurance contracts shall be considered to be an interest payment in accordance with point (e) of paragraph 1 only to the extent to which the life insurance contracts giving rise to such benefits were first subscribed
  on or after 1 December 2008
  .

on or after 1 December 2008

10.   Benefits from life insurance contracts shall be considered to be an interest payment in accordance with point (e) of paragraph 1 only to the extent to which the life insurance contracts giving rise to such benefits were first subscribed
  six months after the date of publication of this Directive or later
  .

six months after the date of publication of this Directive or later

Amendment 20

Amendment 20

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 5 a (new)

Article 1 – point 5 a (new)

Directive 2003/48/EC

Article 10 – paragraph 2

| (5a) | Article 10(2) is replaced by the following:



  ‘The transition period shall end no later than 1 July 2014 or at the end of the first full fiscal year following the later of the dates given below, provided that this is earlier than 1 July 2014:








  — | the date of entry into force of the latest agreement between the European Community, following a unanimous decision of the Council, and the Swiss Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra, providing for the exchange of information upon request as defined in the OECD Model Agreement on Exchange of Information on Tax Matters released on 18 April 2002 (hereinafter the ‘OECD Model Agreement’) with respect to interest payments, as defined in this Directive, made by paying agents established within their respective territories to beneficial owners resident in the territory to which the Directive applies, in addition to the simultaneous application by those same countries of a withholding tax on such payments at the rate defined for the corresponding periods referred to in Article 11(1), |
| --- | --- | --- |

(5a)

(5a)

Article 10(2) is replaced by the following:

Article 10(2) is replaced by the following:

‘The transition period shall end no later than 1 July 2014 or at the end of the first full fiscal year following the later of the dates given below, provided that this is earlier than 1 July 2014:

‘The transition period shall end no later than 1 July 2014 or at the end of

given below, provided that this is earlier than 1 July 2014:

—

the date of entry into force of the latest agreement between the European Community, following a unanimous decision of the Council, and the Swiss Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra, providing for the exchange of information upon request as defined in the OECD Model Agreement on Exchange of Information on Tax Matters released on 18 April 2002 (hereinafter the ‘OECD Model Agreement’) with respect to interest payments, as defined in this Directive, made by paying agents established within their respective territories to beneficial owners resident in the territory to which the Directive applies, in addition to the simultaneous application by those same countries of a withholding tax on such payments at the rate defined for the corresponding periods referred to in Article 11(1),

the date of entry into force of the latest

| — | the date on which the Council agrees by unanimity that the United States of America is committed to exchange of information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within its territory to beneficial owners resident in the territory to which the Directive applies. |
| --- | --- |

—

the date on which the Council agrees by unanimity that the United States of America is committed to exchange of information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within its territory to beneficial owners resident in the territory to which the Directive applies.

the date on which the Council agrees by unanimity that the United States of America is committed to exchange of information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within its territory to beneficial owners resident in the territory to which the Directive applies.

| — | the date on which the Council agrees by unanimity that Hong Kong, Singapore and other countries and territories listed under Annex I are committed to exchanging information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within their territory to beneficial owners resident in the territory to which the Directive applies.’ |
| --- | --- |

—

the date on which the Council agrees by unanimity that Hong Kong, Singapore and other countries and territories listed under Annex I are committed to exchanging information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within their territory to beneficial owners resident in the territory to which the Directive applies.’

the date on which the Council agrees by unanimity that Hong Kong, Singapore and other countries and territories listed under Annex I are committed to exchanging information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this Directive, made by paying agents established within their territory to beneficial owners resident in the territory to which the Directive applies.

Amendment 21

Amendment 21

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 6 a (new)

Article 1 – point 6 a (new)

Directive 2003/48/EC

Article 12 – paragraphs 1 and 2

| (6a) | Article 12(1) and (2) are replaced by the following:



  ‘1.   Member States levying withholding tax in accordance with Article 11(1) shall retain 10 % of their revenue and transfer 90 % of the revenue to the Member State of residence of the beneficial owner of the interest.


  2.   Member States levying withholding tax in accordance with Article 11(5) shall retain 10 % of the revenue and transfer 90 % to the other Member States proportionate to the transfers carried out pursuant to paragraph 1 of this Article.’ |
| --- | --- |

(6a)

(6a)

Article 12(1) and (2) are replaced by the following:

Article 12(1) and (2) are replaced by the following:

‘1.   Member States levying withholding tax in accordance with Article 11(1) shall retain 10 % of their revenue and transfer 90 % of the revenue to the Member State of residence of the beneficial owner of the interest.

‘1.

Member States levying withholding tax in accordance with Article 11(1) shall retain 10 %

90 %

2.   Member States levying withholding tax in accordance with Article 11(5) shall retain 10 % of the revenue and transfer 90 % to the other Member States proportionate to the transfers carried out pursuant to paragraph 1 of this Article.’

2.

Member States levying withholding tax in accordance with Article 11(5) shall retain 10 %

90 %

Amendment 22

Amendment 22

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 10

Article 1 – point 10

Directive 2003/48/EC

Article 18

| (10) | The first sentence of
  Article 18 is replaced by the following:
  ‘The Commission shall report to the Council every three years on the operation of this Directive on the basis of the statistics listed in Annex V, which shall be provided by each Member State to the Commission.’ |
| --- | --- |

(10)

The first sentence of
  Article 18 is replaced by the following:

The first sentence of

‘The Commission shall report to the Council every three years on the operation of this Directive on the basis of the statistics listed in Annex V, which shall be provided by each Member State to the Commission.’

| (10) | Article 18 is replaced by the following:

  ‘Article 18


  Review



  1.
     
  By 31st of December 2010, the Commission shall present a comparative study analysing advantages and weaknesses of both the systems of exchange of information and of the withholding tax so as to assess the objective of effective suppression of fiscal fraud and evasion. That comparative study should take into consideration, in particular, aspects of transparency, respect of fiscal sovereignty of the Member States, fiscal justice and administrative burden attached to any of the two systems.



  2.   The Commission shall report to the Council and the European Parliament every three years on the operation of this Directive on the basis of the statistics listed in Annex V, which shall be provided by each Member State to the Commission. On the basis of those reports and the study referred to in paragraph 1, and in particular in relation to the end of transitional period referred to in Article 10(2), the Commission, shall, where appropriate, propose to the Council any amendments to this Directive that prove necessary in order to ensure effective taxation of savings income and to remove undesirable distortions of competition.




  3.
     
  In the context of the study and the reports referred to in paragraphs 1 and 2, the Commission shall examine, in particular, whether it is appropriate to extend the scope of this Directive to all sources of financial income, including dividends and capital gains, as well as to payments made to all legal persons.’ |
| --- | --- |

(10)

Article 18 is replaced by the following:

‘Article 18

‘Article 18

Review

Review

1.
     
  By 31st of December 2010, the Commission shall present a comparative study analysing advantages and weaknesses of both the systems of exchange of information and of the withholding tax so as to assess the objective of effective suppression of fiscal fraud and evasion. That comparative study should take into consideration, in particular, aspects of transparency, respect of fiscal sovereignty of the Member States, fiscal justice and administrative burden attached to any of the two systems.

1.

By 31st of December 2010, the Commission shall present a comparative study analysing advantages and weaknesses of both the systems of exchange of information and of the withholding tax so as to assess the objective of effective suppression of fiscal fraud and evasion. That comparative study should take into consideration, in particular, aspects of transparency, respect of fiscal sovereignty of the Member States, fiscal justice and administrative burden attached to any of the two systems.

2.   The Commission shall report to the Council and the European Parliament every three years on the operation of this Directive on the basis of the statistics listed in Annex V, which shall be provided by each Member State to the Commission. On the basis of those reports and the study referred to in paragraph 1, and in particular in relation to the end of transitional period referred to in Article 10(2), the Commission, shall, where appropriate, propose to the Council any amendments to this Directive that prove necessary in order to ensure effective taxation of savings income and to remove undesirable distortions of competition.

2.

The Commission shall report to the Council and the European Parliament

On the basis of those reports and the study referred to in paragraph 1, and in particular in relation to the end of transitional period referred to in Article 10(2), the Commission, shall, where appropriate, propose to the Council any amendments to this Directive that prove necessary in order to ensure effective taxation of savings income and to remove undesirable distortions of competition.

3.
     
  In the context of the study and the reports referred to in paragraphs 1 and 2, the Commission shall examine, in particular, whether it is appropriate to extend the scope of this Directive to all sources of financial income, including dividends and capital gains, as well as to payments made to all legal persons.’

3.

In the context of the study and the reports referred to in paragraphs 1 and 2, the Commission shall examine, in particular, whether it is appropriate to extend the scope of this Directive to all sources of financial income, including dividends and capital gains, as well as to payments made to all legal persons.’

Amendment 23

Amendment 23

Proposal for a directive – amending act

Proposal for a directive – amending act

Article 1 – point 11

Article 1 – point 11

Directive 2003/48/EC

Article 18 b – paragraph 3 a (new)

3a.
     
  The Commission, assisted by the Committee, shall assess, every two years from 1 January 2010 onwards, the procedures, documents and common formats and forms referred to in Article 18a and shall adopt the measures required to improve them in accordance with the regulatory procedure referred to in Article 18b(2).

3a.

The Commission, assisted by the Committee, shall assess, every two years from 1 January 2010 onwards, the procedures, documents and common formats and forms referred to in Article 18a and shall adopt the measures required to improve them in accordance with the regulatory procedure referred to in Article 18b(2).

Amendment 24

Amendment 24

Proposal for a directive – amending act

Proposal for a directive – amending act

Annex – point 2

Annex – point 2

Directive 2003/48/EC

Annex I

TEXT PROPOSED BY THE COMMISSION

Friday 24 April 2009ANNEX I

List of legal forms of entities and legal arrangements to which Article 2(3) applies because of the presence within the territory of specific countries or jurisdictions of their place of effective management

| 1. | Entities and legal arrangements whose place of effective management is in a country or jurisdiction outside the territorial scope of the Directive as defined in Article 7 and which is different from those listed in Article 17(2):










  Antigua and Barbuda | International business company |
| --- | --- | --- |
| The Bahamas | Trust




  Foundation




  International business company |
| Bahrain | Financial trust |
| Barbados | Trust |
| Belize | Trust




  International business company |
| Bermuda | Trust |
| Brunei | Trust




  International business company




  International trust




  International Limited Partnership |
| Cook Islands | Trust




  International trust




  International company




  International partnership |
| Costa Rica | Trust |
| Djibouti | Exempt company




  (Foreign) trust |
| Dominica | Trust




  International business company |
| Fiji | Trust |
| French Polynesia | Société (Company)




  Société de personnes (Partnership)




  Société en participation (Joint venture)




  (Foreign) trust |
| Guam | Company




  Sole proprietorship




  Partnership




  (Foreign) trust |
| Guatemala | Trust




  Fundación (Foundation) |
| Hong Kong | Trust |
| Kiribati | Trust |
| Labuan (Malaysia) | Offshore company




  Malaysian offshore bank,




  Offshore limited partnership




  Offshore trust |
| Lebanon | Companies benefiting from the Offshore company regime |
| Macao | Trust




  Fundação (Foundation) |
| Maldives | All the companies, partnership and Foreign trust |
| Northern Marianas Islands | Foreign sales corporation




  Offshore banking corporation




  (Foreign) trust |
| Marshall Islands | Trust |
| Mauritius | Trust




  Global business company cat. 1 and 2 |
| Micronesia | Company




  Partnership




  (Foreign) trust |
| Nauru | Trusts/nominee company




  Company




  Partnership




  Sole proprietorship




  Foreign will




  Foreign estate




  Other form of business negotiated with the Government |
| New Caledonia | Société (Company)




  Société civile (Civil company)




  Société de personnes (Partnership)




  Joint venture




  Estate of deceased person




  (Foreign) trust |
| Niue | Trust




  International business company |
| Panama | Fideicomiso (Trust)




  Fundación de interés privado (Foundation) |
| Palau | Company




  Partnership




  Sole proprietorship




  Representative office




  Credit union (financial cooperative)




  Cooperative




  (Foreign) trust |
| Philippines | Trust |
| Puerto Rico | Estate




  Trust




  International banking entity |
| Saint Kitts and Nevis | Trust




  Foundation




  Exempt company |
| Saint Lucia | Trust |
| Saint Vincent and the Grenadine | Trust |
| Samoa | Trust




  International trust




  International company




  Offshore bank




  Offshore insurance company




  International partnership




  Limited partnership |
| Seychelles | Trust




  International business company |
| Singapore | Trust |
| Solomon Islands | Company




  Partnership




  Trust |
| South Africa | Trust |
| Tonga | Trust |
| Tuvalu | Trust




  Provident fund |
| United Arab Emirates | Trust |
| US Virgin Islands | Trust




  Exempt company |
| Uruguay | Trust |
| Vanuatu | Trust




  Exempt company




  International company |

1.

Entities and legal arrangements whose place of effective management is in a country or jurisdiction outside the territorial scope of the Directive as defined in Article 7 and which is different from those listed in Article 17(2):

Antigua and Barbuda

International business company

The Bahamas

Trust

Foundation

International business company

Bahrain

Financial trust

Barbados

Trust

Belize

Trust

International business company

Bermuda

Trust

Brunei

Trust

International business company

International trust

International Limited Partnership

Cook Islands

Trust

International trust

International company

International partnership

Costa Rica

Trust

Djibouti

Exempt company

(Foreign) trust

Dominica

Trust

International business company

Fiji

Trust

French Polynesia

Société (Company)

Société de personnes (Partnership)

Société en participation (Joint venture)

(Foreign) trust

Guam

Company

Sole proprietorship

Partnership

(Foreign) trust

Guatemala

Trust

Fundación (Foundation)

Hong Kong

Trust

Kiribati

Trust

Labuan (Malaysia)

Offshore company

Malaysian offshore bank,

Offshore limited partnership

Offshore trust

Lebanon

Companies benefiting from the Offshore company regime

Macao

Trust

Fundação (Foundation)

Maldives

All the companies, partnership and Foreign trust

Northern Marianas Islands

Foreign sales corporation

Offshore banking corporation

(Foreign) trust

Marshall Islands

Trust

Mauritius

Trust

Global business company cat. 1 and 2

Micronesia

Company

Partnership

(Foreign) trust

Nauru

Trusts/nominee company

Company

Partnership

Sole proprietorship

Foreign will

Foreign estate

Other form of business negotiated with the Government

New Caledonia

Société (Company)

Société civile (Civil company)

Société de personnes (Partnership)

Joint venture

Estate of deceased person

(Foreign) trust

Niue

Trust

International business company

Panama

Fideicomiso (Trust)

Fundación de interés privado (Foundation)

Palau

Company

Partnership

Sole proprietorship

Representative office

Credit union (financial cooperative)

Cooperative

(Foreign) trust

Philippines

Trust

Puerto Rico

Estate

Trust

International banking entity

Saint Kitts and Nevis

Trust

Foundation

Exempt company

Saint Lucia

Trust

Saint Vincent and the Grenadine

Trust

Samoa

Trust

International trust

International company

Offshore bank

Offshore insurance company

International partnership

Limited partnership

Seychelles

Trust

International business company

Singapore

Trust

Solomon Islands

Company

Partnership

Trust

South Africa

Trust

Tonga

Trust

Tuvalu

Trust

Provident fund

United Arab Emirates

Trust

US Virgin Islands

Trust

Exempt company

Uruguay

Trust

Vanuatu

Trust

Exempt company

International company

| 2. | Entities and legal arrangements whose place of effective management is in a country or jurisdiction listed in Article 17(2), to which Article 2(3) applies pending the adoption by the country or jurisdiction concerned of provisions equivalent to those of Article 4(2):










  Andorra | Trust |
| --- | --- | --- |
| Anguilla | Trust |
| Aruba | Stichting (Foundation)




  Companies benefiting from the offshore company regime |
| British Virgin Islands | Trust




  International business company |
| Cayman Islands | Trust




  Exempt company |
| Guernsey | Trust




  Zero tax company |
| Isle of Man | Trust |
| Jersey | Trust |
| Liechtenstein | Anstalt (Trust)




  Stiftung (Foundation) |
| Monaco | Trust




  Fondation (Foundation) |
| Montserrat | Trust |
| Netherlands Antilles | Trust




  Stichting (Foundation) |
| San Marino | Trust




  Fondazione (Foundation) |
| Switzerland | Trust




  Foundation |
| Turks and Caicos | Exempted company




  Limited partnership




  Trust |

2.

Entities and legal arrangements whose place of effective management is in a country or jurisdiction listed in Article 17(2), to which Article 2(3) applies pending the adoption by the country or jurisdiction concerned of provisions equivalent to those of Article 4(2):

Andorra

Trust

Anguilla

Trust

Aruba

Stichting (Foundation)

Companies benefiting from the offshore company regime

British Virgin Islands

Trust

International business company

Cayman Islands

Trust

Exempt company

Guernsey

Trust

Zero tax company

Isle of Man

Trust

Jersey

Trust

Liechtenstein

Anstalt (Trust)

Stiftung (Foundation)

Monaco

Trust

Fondation (Foundation)

Montserrat

Trust

Netherlands Antilles

Trust

Stichting (Foundation)

San Marino

Trust

Fondazione (Foundation)

Switzerland

Trust

Foundation

Turks and Caicos

Exempted company

Limited partnership

Trust

AMENDMENT

Friday 24 April 2009ANNEX I

| 1. | The legal forms of entities and legal arrangements to which Article 2(3) applies shall include the following:







  — | Limited liability companies whether limited by shares, guarantee or some other mechanism; |
| --- | --- | --- |

1.

—

Limited liability companies whether limited by shares, guarantee or some other mechanism;

| — | Limited liability corporations whether limited by shares, guarantee or some other mechanism; |
| --- | --- |

—

Limited liability corporations whether limited by shares, guarantee or some other mechanism;

| — | International companies or corporations; |
| --- | --- |

—

International companies or corporations;

| — | International business companies or corporations; |
| --- | --- |

—

International business companies or corporations;

| — | Exempt companies or corporations; |
| --- | --- |

—

Exempt companies or corporations;

| — | Protected cell companies or corporations; |
| --- | --- |

—

Protected cell companies or corporations;

| — | Incorporated cell companies or corporations; |
| --- | --- |

—

Incorporated cell companies or corporations;

| — | International banks, including corporations of similar name; |
| --- | --- |

—

International banks, including corporations of similar name;

| — | Offshore banks, including corporations of similar name; |
| --- | --- |

—

Offshore banks, including corporations of similar name;

| — | Insurance companies or corporations; |
| --- | --- |

—

Insurance companies or corporations;

| — | Reinsurance companies or corporations; |
| --- | --- |

—

Reinsurance companies or corporations;

| — | Co-operatives; |
| --- | --- |

—

Co-operatives;

| — | Credit unions; |
| --- | --- |

—

Credit unions;

| — | Partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships; |
| --- | --- |

—

Partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships;

| — | Joint ventures; |
| --- | --- |

—

Joint ventures;

| — | Trusts; |
| --- | --- |

—

Trusts;

| — | Settlements; |
| --- | --- |

—

Settlements;

| — | Foundations; |
| --- | --- |

—

Foundations;

| — | Estates of deceased persons; |
| --- | --- |

—

Estates of deceased persons;

| — | Funds of all forms; |
| --- | --- |

—

Funds of all forms;

| — | Branches of any of the entities and arrangements listed here; |
| --- | --- |

—

Branches of any of the entities and arrangements listed here;

| — | Representative offices of any of the entities and arrangements listed here; |
| --- | --- |

—

Representative offices of any of the entities and arrangements listed here;

| — | Permanent establishments of any of the entities and arrangements listed here; |
| --- | --- |

—

Permanent establishments of any of the entities and arrangements listed here;

| — | Multiform Foundation, however described |
| --- | --- |

—

Multiform Foundation, however described

| 2. | The specific countries or jurisdictions outside the territorial scope of the Directive as defined in Article 7 and which are different from those listed in Article 17(2) in which Article 2(3) applies with regard to the legal forms of entities and legal arrangements referred to in Part 1 of this Annex if their place of effective management is located therein includes:







  — | Anjouan |
| --- | --- | --- |

2.

—

Anjouan

| — | Antigua and Barbuda |
| --- | --- |

—

Antigua and Barbuda

| — | The Bahamas |
| --- | --- |

—

The Bahamas

| — | Bahrain |
| --- | --- |

—

Bahrain

| — | Barbados |
| --- | --- |

—

Barbados

| — | Belize |
| --- | --- |

—

Belize

| — | Bermuda |
| --- | --- |

—

Bermuda

| — | Brunei |
| --- | --- |

—

Brunei

| — | Cook Islands |
| --- | --- |

—

Cook Islands

| — | Costa Rica |
| --- | --- |

—

Costa Rica

| — | Djibouti |
| --- | --- |

—

Djibouti

| — | Dominica |
| --- | --- |

—

Dominica

| — | Dubai |
| --- | --- |

—

Dubai

| — | Fiji |
| --- | --- |

—

Fiji

| — | French Polynesia |
| --- | --- |

—

French Polynesia

| — | Ghana |
| --- | --- |

—

Ghana

| — | Grenada |
| --- | --- |

—

Grenada

| — | Guam |
| --- | --- |

—

Guam

| — | Guatemala |
| --- | --- |

—

Guatemala

| — | Hong Kong |
| --- | --- |

—

Hong Kong

| — | Kiribati |
| --- | --- |

—

Kiribati

| — | Labuan (Malaysia) |
| --- | --- |

—

Labuan (Malaysia)

| — | Lebanon |
| --- | --- |

—

Lebanon

| — | Liberia |
| --- | --- |

—

Liberia

| — | Macao |
| --- | --- |

—

Macao

| — | Former Yugoslav Republic of Macedonia |
| --- | --- |

—

Former Yugoslav Republic of Macedonia

| — | Maldives |
| --- | --- |

—

Maldives

| — | Montenegro |
| --- | --- |

—

Montenegro

| — | Northern Marianas Islands |
| --- | --- |

—

Northern Marianas Islands

| — | Marshall Islands |
| --- | --- |

—

Marshall Islands

| — | Mauritius |
| --- | --- |

—

Mauritius

| — | Micronesia |
| --- | --- |

—

Micronesia

| — | Nauru |
| --- | --- |

—

Nauru

| — | New Caledonia |
| --- | --- |

—

New Caledonia

| — | Niue |
| --- | --- |

—

Niue

| — | Panama |
| --- | --- |

—

Panama

| — | Palau |
| --- | --- |

—

Palau

| — | Philippines |
| --- | --- |

—

Philippines

| — | Puerto Rico |
| --- | --- |

—

Puerto Rico

| — | Saint Kitts and Nevis |
| --- | --- |

—

Saint Kitts and Nevis

| — | Saint Lucia |
| --- | --- |

—

Saint Lucia

| — | Saint Vincent and the Grenadines |
| --- | --- |

—

Saint Vincent and the Grenadines

| — | Samoa |
| --- | --- |

—

Samoa

| — | Sao Tome e Principe |
| --- | --- |

—

Sao Tome e Principe

| — | Seychelles |
| --- | --- |

—

Seychelles

| — | Singapore |
| --- | --- |

—

Singapore

| — | Solomon Islands |
| --- | --- |

—

Solomon Islands

| — | Somalia |
| --- | --- |

—

Somalia

| — | South Africa |
| --- | --- |

—

South Africa

| — | Tonga |
| --- | --- |

—

Tonga

| — | Tuvalu |
| --- | --- |

—

Tuvalu

| — | United Arab Emirates |
| --- | --- |

—

United Arab Emirates

| — | USA State of Delaware |
| --- | --- |

—

USA State of Delaware

| — | USA State of Nevada |
| --- | --- |

—

USA State of Nevada

| — | US Virgin Islands |
| --- | --- |

—

US Virgin Islands

| — | Uruguay |
| --- | --- |

—

Uruguay

| — | Vanuatu |
| --- | --- |

—

Vanuatu

| 3. | The specific countries or jurisdictions listed in Article 17(2) in which Article 2(3) applies pending the adoption by the country or jurisdiction concerned of provisions equivalent to those of Article 4(2) with regard to the legal forms of entities and legal arrangements referred to in Part 1 of this Annex if their place of effective management is located therein includes:







  — | Andorra |
| --- | --- | --- |

3.

—

Andorra

| — | Anguilla |
| --- | --- |

—

Anguilla

| — | Aruba |
| --- | --- |

—

Aruba

| — | British Virgin Islands |
| --- | --- |

—

British Virgin Islands

| — | Cayman Islands |
| --- | --- |

—

Cayman Islands

| — | Guernsey, Alderney or Sark |
| --- | --- |

—

Guernsey, Alderney or Sark

| — | Isle of Man |
| --- | --- |

—

Isle of Man

| — | Jersey |
| --- | --- |

—

Jersey

| — | Liechtenstein |
| --- | --- |

—

Liechtenstein

| — | Monaco |
| --- | --- |

—

Monaco

| — | Montserrat |
| --- | --- |

—

Montserrat

| — | Netherlands Antilles |
| --- | --- |

—

Netherlands Antilles

| — | San Marino |
| --- | --- |

—

San Marino

| — | Sark |
| --- | --- |

—

Sark

| — | Switzerland |
| --- | --- |

—

Switzerland

| — | Turks and Caicos |
| --- | --- |

—

Turks and Caicos

| 4. | Any of the legal forms of entities and legal arrangements referred to in Part 1 of this Annex shall be covered by Article 2(3) if their place of effective management is located in any of the specific countries or jurisdictions referred to in Parts 2 and 3 of this Annex subject to the following:









  (a) | A country or jurisdiction referred to in Parts 2 and 3 can make an application to the Committee referred to in Article 18b to have any of the legal forms of entities and legal arrangements referred to in Part 1 removed from consideration for their country or jurisdiction on the grounds that the legal forms of entities and legal arrangements referred to could not have their place of effective management located therein or on the ground that appropriate taxation of interest income paid to these legal persons or arrangements is in fact ensured; |
| --- | --- | --- |

4.

(a)

A country or jurisdiction referred to in Parts 2 and 3 can make an application to the Committee referred to in Article 18b to have any of the legal forms of entities and legal arrangements referred to in Part 1 removed from consideration for their country or jurisdiction on the grounds that the legal forms of entities and legal arrangements referred to could not have their place of effective management located therein or on the ground that appropriate taxation of interest income paid to these legal persons or arrangements is in fact ensured;

| (b) | The Committee shall publish its decision with reasons stated within 3 months of such application being made and the legal forms of entities and legal arrangements noted as being removed from the scope of Part 1 for the country or jurisdiction that has made such application for a notified period, not to exceed two years, which period may be extended on application from the country or jurisdiction submitted no sooner than six months prior to its date of expiry. |
| --- | --- |

(b)

The Committee shall publish its decision with reasons stated within 3 months of such application being made and the legal forms of entities and legal arrangements noted as being removed from the scope of Part 1 for the country or jurisdiction that has made such application for a notified period, not to exceed two years, which period may be extended on application from the country or jurisdiction submitted no sooner than six months prior to its date of expiry.

Amendment 25

Amendment 25

Proposal for a directive – amending act

Proposal for a directive – amending act

Annex – point 2

Annex – point 2

Directive 2003/48/EC

Annex III

TEXT PROPOSED BY THE COMMISSION

Friday 24 April 2009ANNEX III

List of ‘paying agents on receipt’ under Article 4(2)

INTRODUCTORY NOTE

Trusts and similar legal arrangements are listed for those Member States that do not have a domestic fiscal regime for the taxation of income received on behalf of such legal arrangements by the person who primarily holds legal title and primarily manages its property and income, and is resident on their territory. This list refers to trusts and similar legal arrangements whose place of effective management of their movable assets is in these countries (residence of the main trustee or other administrator responsible for movable assets), irrespective of the laws under which these trusts and similar legal arrangements have been set up.

| Countries | List of entities and arrangements | Comments |
| --- | --- | --- |
| Belgium | — | Société de droit commun / maatschap (Civil law or commercial company without any legal status) |

Countries

List of entities and arrangements

Comments

Belgium

—

Société de droit commun / maatschap (Civil law or commercial company without any legal status)

| — | Société momentanée / tijdelijke handelsvennootschap (Company without any legal status whose purpose is to deal with one or several specific commercial operations) |
| --- | --- |

—

Société momentanée / tijdelijke handelsvennootschap (Company without any legal status whose purpose is to deal with one or several specific commercial operations)

| — | Société interne / stille handelsvennootschap (Company without any legal status through which one or more persons has (have) an interest in operations that one or more other persons manage(s) on their behalf) |
| --- | --- |

—

Société interne / stille handelsvennootschap (Company without any legal status through which one or more persons has (have) an interest in operations that one or more other persons manage(s) on their behalf)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

See Articles 46, 47 and 48 of the Belgian Company Code.

These ‘companies’ (the name of which is given in French and Dutch) do not have legal status, and from the point of view of taxation, a look-through approach is applicable.

Bulgaria

| — | Drujestvo sys specialna investicionna cel (Special-purpose investment company) |
| --- | --- |

—

Drujestvo sys specialna investicionna cel (Special-purpose investment company)

| — | Investicionno drujestvo (Investment company, not covered by Article 6) |
| --- | --- |

—

Investicionno drujestvo (Investment company, not covered by Article 6)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Entity exempt from corporate income tax.

Trusts are allowed for public offering in Bulgaria and are exempt from corporate income tax.

Czech Republic

| — | Veřejná obchodní společnost (ver. obch. spol. or V.O.S.) (Partnership) |
| --- | --- |

—

Veřejná obchodní společnost (ver. obch. spol. or V.O.S.) (Partnership)

| — | Sdruženi (Association) |
| --- | --- |

—

Sdruženi (Association)

| — | Družstvo (Cooperative) |
| --- | --- |

—

Družstvo (Cooperative)

| — | Evropské hospodářské zájmové sdružení (EHZS) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Evropské hospodářské zájmové sdružení (EHZS) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Denmark

| — | Interessentskaber (General partnership) |
| --- | --- |

—

Interessentskaber (General partnership)

| — | Kommanditselskaber (Limited partnership) |
| --- | --- |

—

Kommanditselskaber (Limited partnership)

| — | Partnerselskaber (Partner company) |
| --- | --- |

—

Partnerselskaber (Partner company)

| — | Europæisk økonomisk firmagrupper (EØFG) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europæisk økonomisk firmagrupper (EØFG) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Germany

| — | Gesellschaft bürgerlichen Rechts (Civil law company) |
| --- | --- |

—

Gesellschaft bürgerlichen Rechts (Civil law company)

| — | Kommanditgesellschaft — KG, offene Handelsgesellschaft — OHG (Commercial partnership) |
| --- | --- |

—

Kommanditgesellschaft — KG, offene Handelsgesellschaft — OHG (Commercial partnership)

| — | Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG))

Estonia

| — | Täisühing- TÜ (General partnership) |
| --- | --- |

—

Täisühing- TÜ (General partnership)

| — | Usaldusühing-UÜ (Limited partnership) |
| --- | --- |

—

Usaldusühing-UÜ (Limited partnership)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

General and limited partnerships are taxed as separate taxable entities, any distributions by which are deemed to be dividends (subject to distribution tax)

Ireland

| — | Partnership and investment club |
| --- | --- |

—

Partnership and investment club

| — | European economic interest grouping (EEIG) |
| --- | --- |

—

European economic interest grouping (EEIG)

Irish resident trustee taxable on income arising to the trust.

Greece

| — | Omorrythmos Eteria (OE) (General partnership) |
| --- | --- |

—

Omorrythmos Eteria (OE) (General partnership)

| — | Eterorythmos Eteria (EE) (Limited partnership) |
| --- | --- |

—

Eterorythmos Eteria (EE) (Limited partnership)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Partnerships are subject to corporate income tax. However, up to 50 % of the profits of partnerships is taxed in the hands of the individual partners at their personal tax rate

Spain

Entities subject to the system for taxing attribution of profits:

| — | Sociedad civil con o sin personalidad jurídica (Civil law partnership with or without legal personality), |
| --- | --- |

—

Sociedad civil con o sin personalidad jurídica (Civil law partnership with or without legal personality),

| — | Agrupación europea de interés económico (AEIE) (European Economic Interest Grouping (EEIG)), |
| --- | --- |

—

Agrupación europea de interés económico (AEIE) (European Economic Interest Grouping (EEIG)),

| — | Herencias yacentes (Estate of a deceased person), |
| --- | --- |

—

Herencias yacentes (Estate of a deceased person),

| — | Comunidad de bienes (Joint ownership). |
| --- | --- |

—

Comunidad de bienes (Joint ownership).

| — | Other entities without legal personality that constitute a separate economic unit or a separate group of assets (Article 35(4) of the Ley General Tributaria). |
| --- | --- |

—

Other entities without legal personality that constitute a separate economic unit or a separate group of assets (Article 35(4) of the Ley General Tributaria).

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

France

| — | Société en participation (Joint venture company) |
| --- | --- |

—

Société en participation (Joint venture company)

| — | Société ou association de fait (De facto company) |
| --- | --- |

—

Société ou association de fait (De facto company)

| — | Indivision (Joint ownership) |
| --- | --- |

—

Indivision (Joint ownership)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Italy

| — | Società semplice (Civil law partnership and assimilated entity) |
| --- | --- |

—

Società semplice (Civil law partnership and assimilated entity)

| — | Non-commercial entity without legal personality |
| --- | --- |

—

Non-commercial entity without legal personality

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

The category of entities treated as ‘società semplici’ includes: ‘società di fatto’ (irregular or ‘de facto’ partnerships), which do not have commercial activities as their purpose, and ‘associazioni’ (associations) organised by artists or professional persons for the practice of their art or profession in associative forms with no legal personality

The category of non-commercial entities without legal personality is wide, and may include various types of organisations: associations, syndicates, committees, non-profit organisations and others

Cyprus

| — | Syneterismos (Partnership) |
| --- | --- |

—

Syneterismos (Partnership)

| — | syndesmos or somatio (Association) |
| --- | --- |

—

syndesmos or somatio (Association)

| — | Synergatikes (Cooperative) |
| --- | --- |

—

Synergatikes (Cooperative)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

| — | Ekswxwria Eteria (Offshore company) |
| --- | --- |

—

Ekswxwria Eteria (Offshore company)

Trusts created under Cypriot jurisdiction are considered transparent entities under national law.

Latvia

| — | Pilnsabiedrība (General partnership) |
| --- | --- |

—

Pilnsabiedrība (General partnership)

| — | Komandītsabiedrība (Limited partnership) |
| --- | --- |

—

Komandītsabiedrība (Limited partnership)

| — | Eiropas Ekonomisko interešu grupām (EEIG) (European Economic Interest Grouping (EEIG) |
| --- | --- |

—

Eiropas Ekonomisko interešu grupām (EEIG) (European Economic Interest Grouping (EEIG)

| — | Biedrības un nodibinājumi (Association and foundation); |
| --- | --- |

—

Biedrības un nodibinājumi (Association and foundation);

| — | Lauksaimniecības kooperatīvi (Agriculture cooperative) |
| --- | --- |

—

Lauksaimniecības kooperatīvi (Agriculture cooperative)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Lithuania

| — | Europos ekonominių interesų grupės (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europos ekonominių interesų grupės (European Economic Interest Grouping (EEIG))

| — | Asociacija (Association) |
| --- | --- |

—

Asociacija (Association)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Interests and capital gains on shares or bonds derived by associations are exempt from corporate income tax.

Luxembourg

| — | Société en nom collectif (General partnership) |
| --- | --- |

—

Société en nom collectif (General partnership)

| — | Société en commandite simple (Limited partnership) |
| --- | --- |

—

Société en commandite simple (Limited partnership)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Hungary

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Hungary recognises trusts as ‘entities’ under national rules

Malta

| — | Soċjetà in akomonditia (Partnership ‘en commandite’), the capital of which is not divided into shares |
| --- | --- |

—

Soċjetà in akomonditia (Partnership ‘en commandite’), the capital of which is not divided into shares

| — | Arrangement in participation (Association ‘en participation’) |
| --- | --- |

—

Arrangement in participation (Association ‘en participation’)

| — | Investment club |
| --- | --- |

—

Investment club

| — | Soċjetà Kooperattiva (Cooperative society) |
| --- | --- |

—

Soċjetà Kooperattiva (Cooperative society)

Partnerships ‘en commandite’ the capital of which is divided into shares are subject to general CIT.

The Netherlands

| — | Vennootschap onder firma (General partnership) |
| --- | --- |

—

Vennootschap onder firma (General partnership)

| — | Commanditaire vennootschap (Closed limited partnership) |
| --- | --- |

—

Commanditaire vennootschap (Closed limited partnership)

| — | Europese economische samenwerkingsverbanden (EESV) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europese economische samenwerkingsverbanden (EESV) (European Economic Interest Grouping (EEIG))

| — | Vereniging (Association) |
| --- | --- |

—

Vereniging (Association)

| — | Stichting (Foundation) |
| --- | --- |

—

Stichting (Foundation)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

General partnerships, closed partnerships and EEIGs are transparent for tax purposes.

Verenigingen (associations) and stichtingen (foundations) are tax exempt unless they carry on a trade or business.

Austria

| — | Personengesellschaft (Partnership) |
| --- | --- |

—

Personengesellschaft (Partnership)

| — | Offene Personengesellschaft (General commercial partnership) |
| --- | --- |

—

Offene Personengesellschaft (General commercial partnership)

| — | Kommanditgesellschaft, KG (Limited partnership) |
| --- | --- |

—

Kommanditgesellschaft, KG (Limited partnership)

| — | Gesellschaft nach bürgerlichem Recht, GesBR (Civil law partnership) |
| --- | --- |

—

Gesellschaft nach bürgerlichem Recht, GesBR (Civil law partnership)

| — | Offene Erwerbsgeselllschaft (OEG) (Professional general partnership) |
| --- | --- |

—

Offene Erwerbsgeselllschaft (OEG) (Professional general partnership)

| — | Kommandit-Erwerbsgesellschaft (Professional limited partnership) |
| --- | --- |

—

Kommandit-Erwerbsgesellschaft (Professional limited partnership)

| — | Stille Gesellschaft (Silent partnership) |
| --- | --- |

—

Stille Gesellschaft (Silent partnership)

| — | Einzelfirma (Sole partnership) |
| --- | --- |

—

Einzelfirma (Sole partnership)

| — | Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG))

| — | Privatstiftung (Private foundation) |
| --- | --- |

—

Privatstiftung (Private foundation)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Partnership is considered transparent, even if viewed as an entity for the purpose of profit computation.

Treated like a normal ‘partnership’.

Taxed as a company, interest income taxed at a reduced rate of 12.5 %

Poland

| — | Spólka jawna (Sp. j.) (General partnership) |
| --- | --- |

—

Spólka jawna (Sp. j.) (General partnership)

| — | Spólka komandytowa (Sp. k.) (Limited partnership) |
| --- | --- |

—

Spólka komandytowa (Sp. k.) (Limited partnership)

| — | Spólka komandytowo-akcyjna (S.K.A.) (Limited joint-stock partnership) |
| --- | --- |

—

Spólka komandytowo-akcyjna (S.K.A.) (Limited joint-stock partnership)

| — | Spólka partnerska (Sp. p.) (Professional partnership) |
| --- | --- |

—

Spólka partnerska (Sp. p.) (Professional partnership)

| — | Europejskie ugrupowanie interesów gospodarczych (EUIG) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europejskie ugrupowanie interesów gospodarczych (EUIG) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Portugal

| — | Sociedade civil (Civil law partnership) which is not incorporated in a commercial form |
| --- | --- |

—

Sociedade civil (Civil law partnership) which is not incorporated in a commercial form

| — | Incorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same profession |
| --- | --- |

—

Incorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same profession

| — | Agrupamento de Interesse Económico (AIE) (domestic economic interest grouping) |
| --- | --- |

—

Agrupamento de Interesse Económico (AIE) (domestic economic interest grouping)

| — | Agrupamento Europeu de Interesse Económico (AEIE) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Agrupamento Europeu de Interesse Económico (AEIE) (European Economic Interest Grouping (EEIG))

| — | Sociedada gestora de participacoes sociais (SGPS) (Holding companies which are either controlled by a family group or fully owned by five members or less) |
| --- | --- |

—

Sociedada gestora de participacoes sociais (SGPS) (Holding companies which are either controlled by a family group or fully owned by five members or less)

| — | Herança jacente (namely estate of a deceased person) |
| --- | --- |

—

Herança jacente (namely estate of a deceased person)

| — | Unincorporated association |
| --- | --- |

—

Unincorporated association

| — | Offshore company operating in free-trade zones in Madeira or in Azores island of Santa Maria |
| --- | --- |

—

Offshore company operating in free-trade zones in Madeira or in Azores island of Santa Maria

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Civil law partnerships not incorporated in a commercial form, incorporated firms engaged in listed professional activities, ACE (type of incorporated joint venture), EEIGs and companies holding assets which are either controlled by a family group or fully owned by five members or less are fiscally transparent.

Other incorporated partnerships are treated as companies and taxed under the general IRC rules.

Offshore companies operating in free-trade zones in Madeira or in Azores island of Santa Maria are exempted from CIT and WHT on dividends, interest, royalties and similar payments made to the foreign parent.

The only trusts admitted under Portuguese law are those set up under foreign law by legal persons in the International Business Centre of Madeira and trust assets constitute an autonomous part of the patrimony of the legal person acting as trustee.

Romania

| — | Association (partnership) |
| --- | --- |

—

Association (partnership)

| — | Cooperative (Cooperative) |
| --- | --- |

—

Cooperative (Cooperative)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Slovenia

| — | Samostojni podjetnik (Proprietorship) |
| --- | --- |

—

Samostojni podjetnik (Proprietorship)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Slovak Republic

| — | Verejná obchodná spoločnosť (General partnership) |
| --- | --- |

—

Verejná obchodná spoločnosť (General partnership)

| — | Európske združenie hospodárskych záujmov (European Economic interest grouping (EEIG)) |
| --- | --- |

—

Európske združenie hospodárskych záujmov (European Economic interest grouping (EEIG))

| — | Komanditná spoločnosť (Limited partnership) re income attributed to a general partner |
| --- | --- |

—

Komanditná spoločnosť (Limited partnership) re income attributed to a general partner

| — | Združenie (Association) |
| --- | --- |

—

Združenie (Association)

| — | Entities that are not set up for the purpose of conducting business: chambers of professionals, voluntary civic associations, Nadácia (foundations) |
| --- | --- |

—

Entities that are not set up for the purpose of conducting business: chambers of professionals, voluntary civic associations, Nadácia (foundations)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

The taxable base is first computed for the limited partnership as a whole and then allocated to the general partners and limited partners. The profit shares received by the general partners of a limited partnership are taxed at the level of general partners. The remainder income of the limited partners is taxed initially at partnership level according to the rules for companies.

Tax-exempt income includes income derived from activities that are the purpose of the establishment of the organisation, except income subject to the WHT regime.

Finland

| — | yksityisliike (Unregistered firm) |
| --- | --- |

—

yksityisliike (Unregistered firm)

| — | avoin yhtiö / öppet bolag (Partnership) |
| --- | --- |

—

avoin yhtiö / öppet bolag (Partnership)

| — | kommandiittiyhtiö / kommanditbolag (Limited partnership) |
| --- | --- |

—

kommandiittiyhtiö / kommanditbolag (Limited partnership)

| — | kuolinpesä / dödsbo (Estate of a deceased person) |
| --- | --- |

—

kuolinpesä / dödsbo (Estate of a deceased person)

| — | eurooppalaisesta taloudellisesta etuyhtymästä (ETEY) / europeiska ekonomiska intressegrupperingar (European Economic interest grouping (EEIG)) |
| --- | --- |

—

eurooppalaisesta taloudellisesta etuyhtymästä (ETEY) / europeiska ekonomiska intressegrupperingar (European Economic interest grouping (EEIG))

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

Sweden

| — | handelsbolag (General partnership) |
| --- | --- |

—

handelsbolag (General partnership)

| — | kommanditbolag (Limited partnership) |
| --- | --- |

—

kommanditbolag (Limited partnership)

| — | enkelt bolag (Simple partnership) |
| --- | --- |

—

enkelt bolag (Simple partnership)

| — | ‘Trust’ or other similar legal arrangement |
| --- | --- |

—

‘Trust’ or other similar legal arrangement

United Kingdom

| — | General partnership |
| --- | --- |

—

General partnership

| — | Limited partnership |
| --- | --- |

—

Limited partnership

| — | Limited liability partnership |
| --- | --- |

—

Limited liability partnership

| — | EEIG |
| --- | --- |

—

EEIG

| — | Investment club (where members are entitled to a specific share of assets) |
| --- | --- |

—

Investment club (where members are entitled to a specific share of assets)

General partnerships, limited partnerships; limited liability partnerships and EEIGs are transparent for tax purposes.

AMENDMENT

Friday 24 April 2009ANNEX III

List of ‘paying agents on receipt’ under Article 4(2)

INTRODUCTORY NOTE

Trusts and similar legal arrangements are listed for those Member States that do not have a domestic fiscal regime for the taxation of income received on behalf of such legal arrangements by the person who primarily holds legal title and primarily manages its property and income, and is resident on their territory. This list refers to trusts and similar legal arrangements whose place of effective management of their movable assets is in these countries (residence of the main trustee or other administrator responsible for movable assets), irrespective of the laws under which these trusts and similar legal arrangements have been set up.

| Countries | List of entities and arrangements | Comments |
| --- | --- | --- |
| Belgium | — | Société de droit commun / maatschap (Civil law or commercial company without any legal status) |

Countries

List of entities and arrangements

Comments

Belgium

—

Société de droit commun / maatschap (Civil law or commercial company without any legal status)

| — | Société momentanée / tijdelijke handelsvennootschap (Company without any legal status whose purpose is to deal with one or several specific commercial operations) |
| --- | --- |

—

Société momentanée / tijdelijke handelsvennootschap (Company without any legal status whose purpose is to deal with one or several specific commercial operations)

| — | Société interne / stille handelsvennootschap (Company without any legal status through which one or more persons has (have) an interest in operations that one or more other persons manage(s) on their behalf) |
| --- | --- |

—

Société interne / stille handelsvennootschap (Company without any legal status through which one or more persons has (have) an interest in operations that one or more other persons manage(s) on their behalf)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

See Articles 46, 47 and 48 of the Belgian Company Code.

These ‘companies’ (the name of which is given in French and Dutch) do not have legal status, and from the point of view of taxation, a look-through approach is applicable.

Bulgaria

| — | Drujestvo sys specialna investicionna cel (Special-purpose investment company) |
| --- | --- |

—

Drujestvo sys specialna investicionna cel (Special-purpose investment company)

| — | Investicionno drujestvo (Investment company, not covered by Article 6) |
| --- | --- |

—

Investicionno drujestvo (Investment company, not covered by Article 6)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Entity exempt from corporate income tax

Trusts are allowed for public offering in Bulgaria and are exempt from corporate income tax

Czech Republic

| — | Veřejná obchodní společnost (ver. obch. spol. or V.O.S.) (Partnership) |
| --- | --- |

—

Veřejná obchodní společnost (ver. obch. spol. or V.O.S.) (Partnership)

| — | Sdruženi (Association) |
| --- | --- |

—

Sdruženi (Association)

| — | Družstvo (Cooperative) |
| --- | --- |

—

Družstvo (Cooperative)

| — | Evropské hospodářské zájmové sdružení (EHZS) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Evropské hospodářské zájmové sdružení (EHZS) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Denmark

| — | Interessentskaber (General partnership) |
| --- | --- |

—

Interessentskaber (General partnership)

| — | Kommanditselskaber (Limited partnership) |
| --- | --- |

—

Kommanditselskaber (Limited partnership)

| — | Partnerselskaber (Partner company) |
| --- | --- |

—

Partnerselskaber (Partner company)

| — | Europæisk økonomisk firmagrupper (EØFG) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europæisk økonomisk firmagrupper (EØFG) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Germany

| — | Gesellschaft bürgerlichen Rechts (Civil law company) |
| --- | --- |

—

Gesellschaft bürgerlichen Rechts (Civil law company)

| — | Kommanditgesellschaft — KG, offene Handelsgesellschaft — OHG (Commercial partnership) |
| --- | --- |

—

Kommanditgesellschaft — KG, offene Handelsgesellschaft — OHG (Commercial partnership)

| — | Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG))

| — | ‘Trust’, foundation or other similar legal arrangement |
| --- | --- |

—

‘Trust’, foundation or other similar legal arrangement

Estonia

| — | Täisühing- TÜ (General partnership) |
| --- | --- |

—

Täisühing- TÜ (General partnership)

| — | Usaldusühing-UÜ (Limited partnership) |
| --- | --- |

—

Usaldusühing-UÜ (Limited partnership)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

General and limited partnerships are taxed as separate taxable entities, any distributions by which are deemed to be dividends (subject to distribution tax).

Ireland

| — | Partnership and investment club
  European economic interest grouping (EEIG) |
| --- | --- |

—

Partnership and investment club

European economic interest grouping (EEIG)

| — | ‘General partnership’ |
| --- | --- |

—

‘General partnership’

| — | ‘Limited partnership’ |
| --- | --- |

—

‘Limited partnership’

| — | ‘Investment partnership’ |
| --- | --- |

—

‘Investment partnership’

| — | ‘Non-resident limited liability company’ |
| --- | --- |

—

‘Non-resident limited liability company’

| — | ‘Irish common contractual fund’ |
| --- | --- |

—

‘Irish common contractual fund’

| — | ‘Trust’, foundation or other similar legal arrangement |
| --- | --- |

—

‘Trust’, foundation or other similar legal arrangement

Irish resident trustee taxable on income arising to the trust.

Greece

| — | Omorrythmos Eteria (OE) (General partnership) |
| --- | --- |

—

Omorrythmos Eteria (OE) (General partnership)

| — | Eterorrythmos Eteria (EE) (Limited partnership) |
| --- | --- |

—

Eterorrythmos Eteria (EE) (Limited partnership)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Partnerships are subject to corporate income tax. However, up to 50 % of the profits of partnerships is taxed in the hands of the individual partners at their personal tax rate.

Spain

Entities subject to the system for taxing attribution of profits:

| — | Sociedad civil con o sin personalidad jurídica (Civil law partnership with or without legal personality), |
| --- | --- |

—

Sociedad civil con o sin personalidad jurídica (Civil law partnership with or without legal personality),

| — | Agrupación europea de interés económico (AEIE) (European Economic Interest Grouping (EEIG)), |
| --- | --- |

—

Agrupación europea de interés económico (AEIE) (European Economic Interest Grouping (EEIG)),

| — | Herencias yacentes (Estate of a deceased person), |
| --- | --- |

—

Herencias yacentes (Estate of a deceased person),

| — | Comunidad de bienes (Joint ownership). |
| --- | --- |

—

Comunidad de bienes (Joint ownership).

| — | Other entities without legal personality that constitute a separate economic unit or a separate group of assets (Article 35(4) of the Ley General Tributaria). |
| --- | --- |

—

Other entities without legal personality that constitute a separate economic unit or a separate group of assets (Article 35(4) of the Ley General Tributaria).

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

France

| — | Société en participation (Joint venture company) |
| --- | --- |

—

Société en participation (Joint venture company)

| — | Société ou association de fait (De facto company) |
| --- | --- |

—

Société ou association de fait (De facto company)

| — | Indivision (Joint ownership) |
| --- | --- |

—

Indivision (Joint ownership)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Italy

| — | Società semplice (Civil law partnership and assimilated entity) |
| --- | --- |

—

Società semplice (Civil law partnership and assimilated entity)

| — | Non-commercial entity without legal personality |
| --- | --- |

—

Non-commercial entity without legal personality

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

The category of entities treated as ‘società semplici’ includes: ‘società di fatto’ (irregular or ‘de facto’ partnerships), which do not have commercial activities as their purpose, and ‘associazioni’ (associations) organised by artists or professional persons for the practice of their art or profession in associative forms with no legal personality.

The category of non-commercial entities without legal personality is wide, and may include various types of organisations: associations, syndicates, committees, non-profit organisations and others.

Cyprus

| — | Syneterismos (Partnership) |
| --- | --- |

—

Syneterismos (Partnership)

| — | syndesmos or somatio (Association) |
| --- | --- |

—

syndesmos or somatio (Association)

| — | Synergatikes (Cooperative) |
| --- | --- |

—

Synergatikes (Cooperative)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

| — | Ekswxwria Eteria (Offshore company) |
| --- | --- |

—

Ekswxwria Eteria (Offshore company)

Trusts created under Cypriot jurisdiction are considered transparent entities under national law.

Latvia

| — | Pilnsabiedrība (General partnership) |
| --- | --- |

—

Pilnsabiedrība (General partnership)

| — | Komandītsabiedrība (Limited partnership) |
| --- | --- |

—

Komandītsabiedrība (Limited partnership)

| — | Eiropas Ekonomisko interešu grupām (EEIG) (European Economic Interest Grouping (EEIG) |
| --- | --- |

—

Eiropas Ekonomisko interešu grupām (EEIG) (European Economic Interest Grouping (EEIG)

| — | Biedrības un nodibinājumi (Association and foundation); |
| --- | --- |

—

Biedrības un nodibinājumi (Association and foundation);

| — | Lauksaimniecības kooperatīvi (Agriculture cooperative) |
| --- | --- |

—

Lauksaimniecības kooperatīvi (Agriculture cooperative)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Lithuania

| — | Europos ekonominių interesų grupės (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europos ekonominių interesų grupės (European Economic Interest Grouping (EEIG))

| — | Asociacija (Association) |
| --- | --- |

—

Asociacija (Association)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Interests and capital gains on shares or bonds derived by associations are exempt from corporate income tax.

Luxembourg

| — | Société en nom collectif (General partnership) |
| --- | --- |

—

Société en nom collectif (General partnership)

| — | Société en commandite simple (Limited partnership) |
| --- | --- |

—

Société en commandite simple (Limited partnership)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Hungary

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Hungary recognises trusts as ‘entities’ under national rules

Malta

| — | Soċjetà in akomonditia (Partnership ‘en commandite’), the capital of which is not divided into shares |
| --- | --- |

—

Soċjetà in akomonditia (Partnership ‘en commandite’), the capital of which is not divided into shares

| — | Arrangement in participation (Association ‘en participation’) |
| --- | --- |

—

Arrangement in participation (Association ‘en participation’)

| — | Investment club |
| --- | --- |

—

Investment club

| — | Soċjetà Kooperattiva (Cooperative society) |
| --- | --- |

—

Soċjetà Kooperattiva (Cooperative society)

| — | ‘Trust’, foundation or other similar legal arrangement |
| --- | --- |

—

‘Trust’, foundation or other similar legal arrangement

Partnerships ‘en commandite’ the capital of which is divided into shares are subject to general CIT.

Netherlands

| — | Vennootschap onder firma (General partnership) |
| --- | --- |

—

Vennootschap onder firma (General partnership)

| — | Commanditaire vennootschap (Closed limited partnership) |
| --- | --- |

—

Commanditaire vennootschap (Closed limited partnership)

| — | Europese economische samenwerkingsverbanden (EESV) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europese economische samenwerkingsverbanden (EESV) (European Economic Interest Grouping (EEIG))

| — | Vereniging (Association) |
| --- | --- |

—

Vereniging (Association)

| — | Stichting (Foundation) |
| --- | --- |

—

Stichting (Foundation)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

General partnerships, closed partnerships and EEIGs are transparent for tax purposes.

Verenigingen (Associations) and stichtingen (foundations) are tax exempt unless they carry on a trade or business.

Austria

| — | Personengesellschaft (Partnership) |
| --- | --- |

—

Personengesellschaft (Partnership)

| — | Offene Personengesellschaft (General commercial partnership) |
| --- | --- |

—

Offene Personengesellschaft (General commercial partnership)

| — | Kommanditgesellschaft, KG (Limited partnership) |
| --- | --- |

—

Kommanditgesellschaft, KG (Limited partnership)

| — | Gesellschaft nach bürgerlichem Recht, GesBR (Civil law partnership) |
| --- | --- |

—

Gesellschaft nach bürgerlichem Recht, GesBR (Civil law partnership)

| — | Offene Erwerbsgeselllschaft (OEG) (Professional general partnership) |
| --- | --- |

—

Offene Erwerbsgeselllschaft (OEG) (Professional general partnership)

| — | Kommandit-Erwerbsgesellschaft (Professional limited partnership) |
| --- | --- |

—

Kommandit-Erwerbsgesellschaft (Professional limited partnership)

| — | Stille Gesellschaft (Silent partnership) |
| --- | --- |

—

Stille Gesellschaft (Silent partnership)

| — | Einzelfirma (Sole partnership) |
| --- | --- |

—

Einzelfirma (Sole partnership)

| — | Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG))
  Privatstiftung (Private foundation) |
| --- | --- |

—

Europäische Wirtschaftliche Interessenvereinigung (European Economic Interest Grouping (EEIG))

Privatstiftung (Private foundation)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Partnership is considered transparent, even if viewed as an entity for the purpose of profit computation.

Treated like a normal ‘partnership’.

Taxed as a company, interest income taxed at a reduced rate of 12,5 %

Poland

| — | Spólka jawna (Sp. j.) (General partnership) |
| --- | --- |

—

Spólka jawna (Sp. j.) (General partnership)

| — | Spólka komandytowa (Sp. k.) (Limited partnership) |
| --- | --- |

—

Spólka komandytowa (Sp. k.) (Limited partnership)

| — | Spólka komandytowo-akcyjna (S.K.A.) (Limited joint-stock partnership) |
| --- | --- |

—

Spólka komandytowo-akcyjna (S.K.A.) (Limited joint-stock partnership)

| — | Spólka partnerska (Sp. p.) (Professional partnership) |
| --- | --- |

—

Spólka partnerska (Sp. p.) (Professional partnership)

| — | Europejskie ugrupowanie interesów gospodarczych (EUIG) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Europejskie ugrupowanie interesów gospodarczych (EUIG) (European Economic Interest Grouping (EEIG))

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Portugal

| — | Sociedade civil (Civil law partnership) which is not incorporated in a commercial form |
| --- | --- |

—

Sociedade civil (Civil law partnership) which is not incorporated in a commercial form

| — | Incorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same profession |
| --- | --- |

—

Incorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same profession

| — | Agrupamento de Interesse Económico (AIE) (domestic economic interest grouping) |
| --- | --- |

—

Agrupamento de Interesse Económico (AIE) (domestic economic interest grouping)

| — | Agrupamento Europeu de Interesse Económico (AEIE) (European Economic Interest Grouping (EEIG)) |
| --- | --- |

—

Agrupamento Europeu de Interesse Económico (AEIE) (European Economic Interest Grouping (EEIG))

| — | Sociedada gestora de participacoes sociais (SGPS) (Holding companies which are either controlled by a family group or fully owned by five members or less) |
| --- | --- |

—

Sociedada gestora de participacoes sociais (SGPS) (Holding companies which are either controlled by a family group or fully owned by five members or less)

| — | Herança jacente (namely estate of a deceased person) |
| --- | --- |

—

Herança jacente (namely estate of a deceased person)

| — | Unincorporated association |
| --- | --- |

—

Unincorporated association

| — | Offshore company operating in free-trade zones in Madeira or in Azores island of Santa Maria |
| --- | --- |

—

Offshore company operating in free-trade zones in Madeira or in Azores island of Santa Maria

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Civil law partnerships not incorporated in a commercial form, incorporated firms engaged in listed professional activities, ACE (type of incorporated joint venture), EEIGs and companies holding assets which are either controlled by a family group or fully owned by five members or less are fiscally transparent.

Other incorporated partnerships are treated as companies and taxed under the general IRC rules.

Offshore companies operating in free-trade zones in Madeira or in Azores island of Santa Maria are exempted from CIT and WHT on dividends, interest, royalties and similar payments made to the foreign parent.

The only trusts admitted under Portuguese law are those set up under foreign law by legal persons in the International Business Centre of Madeira and trust assets constitute an autonomous part of the patrimony of the legal person acting as trustee.

Romania

| — | Association (partnership) |
| --- | --- |

—

Association (partnership)

| — | Cooperative (Cooperative) |
| --- | --- |

—

Cooperative (Cooperative)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Slovenia

Samostojni podjetnik (Proprietorship)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Slovakia

| — | Verejná obchodná spoločnosť (General partnership) |
| --- | --- |

—

Verejná obchodná spoločnosť (General partnership)

| — | Európske združenie hospodárskych záujmov (European Economic interest grouping (EEIG)) |
| --- | --- |

—

Európske združenie hospodárskych záujmov (European Economic interest grouping (EEIG))

| — | Komanditná spoločnosť (Limited partnership) re income attributed to a general partner |
| --- | --- |

—

Komanditná spoločnosť (Limited partnership) re income attributed to a general partner

| — | Združenie (association) |
| --- | --- |

—

Združenie (association)

| — | Entities that are not set up for the purpose of conducting business: chambers of professionals, voluntary civic associations, Nadácia (foundations) |
| --- | --- |

—

Entities that are not set up for the purpose of conducting business: chambers of professionals, voluntary civic associations, Nadácia (foundations)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

The taxable base is first computed for the limited partnership as a whole and then allocated to the general partners and limited partners. The profit shares received by the general partners of a limited partnership are taxed at the level of general partners. The remainder income of the limited partners is taxed initially at partnership level according to the rules for companies.

Tax-exempt income includes income derived from activities that are the purpose of the establishment of the organisation, except income subject to the WHT regime.

Finland

| — | yksityisliike (Unregistered firm) |
| --- | --- |

—

yksityisliike (Unregistered firm)

| — | avoin yhtiö / öppet bolag (Partnership) |
| --- | --- |

—

avoin yhtiö / öppet bolag (Partnership)

| — | kommandiittiyhtiö / kommanditbolag (Limited partnership) |
| --- | --- |

—

kommandiittiyhtiö / kommanditbolag (Limited partnership)

| — | kuolinpesä / dödsbo (Estate of a deceased person) |
| --- | --- |

—

kuolinpesä / dödsbo (Estate of a deceased person)

| — | eurooppalaisesta taloudellisesta etuyhtymästä (ETEY) / europeiska ekonomiska intressegrupperingar (European Economic interest grouping (EEIG)) |
| --- | --- |

—

eurooppalaisesta taloudellisesta etuyhtymästä (ETEY) / europeiska ekonomiska intressegrupperingar (European Economic interest grouping (EEIG))

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

Sweden

| — | handelsbolag (General partnership) |
| --- | --- |

—

handelsbolag (General partnership)

| — | kommanditbolag (Limited partnership) |
| --- | --- |

—

kommanditbolag (Limited partnership)

| — | enkelt bolag (Simple partnership) |
| --- | --- |

—

enkelt bolag (Simple partnership)

| — | ‘Trust’
  , foundation
  or other similar legal arrangement |
| --- | --- |

—

‘Trust’
  , foundation
  or other similar legal arrangement

United Kingdom

| — | General partnership |
| --- | --- |

—

General partnership

| — | Limited partnership |
| --- | --- |

—

Limited partnership

| — | Limited liability partnership |
| --- | --- |

—

Limited liability partnership

| — | EEIG |
| --- | --- |

—

EEIG

| — | Investment club (where members are entitled to a specific share of assets) |
| --- | --- |

—

Investment club (where members are entitled to a specific share of assets)

| — | ‘Trust’, foundation or other similar legal arrangement |
| --- | --- |

—

‘Trust’, foundation or other similar legal arrangement

| — | Entities and legal arrangements whose place of effective management is in the jurisdiction of Gibraltar, including:








  — | Limited liability companies whether limited by shares, guarantee or some other mechanism; |
| --- | --- | --- |

—

Entities and legal arrangements whose place of effective management is in the jurisdiction of Gibraltar, including:

—

Limited liability companies whether limited by shares, guarantee or some other mechanism;

| — | Limited liability corporations whether limited by shares, guarantee or some other mechanism; |
| --- | --- |

—

Limited liability corporations whether limited by shares, guarantee or some other mechanism;

| — | International companies or corporations; |
| --- | --- |

—

International companies or corporations;

| — | International business companies or corporations; |
| --- | --- |

—

International business companies or corporations;

| — | Exempt companies or corporations; |
| --- | --- |

—

Exempt companies or corporations;

| — | Protected cell companies or corporations; |
| --- | --- |

—

Protected cell companies or corporations;

| — | Incorporated cell companies or corporations; |
| --- | --- |

—

Incorporated cell companies or corporations;

| — | International banks, including corporations of similar name; |
| --- | --- |

—

International banks, including corporations of similar name;

| — | Offshore banks, including corporations of similar name; |
| --- | --- |

—

Offshore banks, including corporations of similar name;

| — | Insurance companies or corporations; |
| --- | --- |

—

Insurance companies or corporations;

| — | Reinsurance companies or corporations; |
| --- | --- |

—

Reinsurance companies or corporations;

| — | Co-operatives; |
| --- | --- |

—

Co-operatives;

| — | Credit unions; |
| --- | --- |

—

Credit unions;

| — | Partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships; |
| --- | --- |

—

Partnerships of all forms including (without limitation) general partnerships, limited partnerships, limited liability partnerships, international partnerships and international business partnerships;

| — | Joint ventures; |
| --- | --- |

—

Joint ventures;

| — | Trusts; |
| --- | --- |

—

Trusts;

| — | Settlements; |
| --- | --- |

—

Settlements;

| — | Foundations; |
| --- | --- |

—

Foundations;

| — | Estates of deceased persons; |
| --- | --- |

—

Estates of deceased persons;

| — | Funds of all forms; |
| --- | --- |

—

Funds of all forms;

| — | Branches of any of the entities and arrangements listed here; |
| --- | --- |

—

Branches of any of the entities and arrangements listed here;

| — | Representative offices of any of the entities and arrangements listed here; |
| --- | --- |

—

Representative offices of any of the entities and arrangements listed here;

| — | Permanent establishments of any of the entities and arrangements listed here; |
| --- | --- |

—

Permanent establishments of any of the entities and arrangements listed here;

| — | Multiform Foundation, however described. |
| --- | --- |

—

Multiform Foundation, however described.

General partnerships, limited partnerships; limited liability partnerships and EEIGs are transparent for tax purposes.

---

(1)  

  OJ L 184, 17.7.1999, p. 23.

1

OJ L 184, 17.7.1999, p. 23.

---