# Council Decision (EU) 2015/2469Show full title

Council Decision (EU) 2015/2469 of 8 December 2015 on the signing, on behalf of the Union, and provisional application of            the Amending Protocol to the Agreement between the European Community and the Republic of San Marino providing for measures            equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments         

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U.K.

# Council Decision (EU) 2015/2469                     

# of 8 December 2015

# on the signing, on behalf of the Union, and provisional application of the Amending Protocol to the Agreement between the                        European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council Directive                        2003/48/EC on taxation of savings income in the form of interest payments                     

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 115 in conjunction with Article                           218(5) and the second paragraph of Article 218(8) thereof,                        

Having regard to the proposal from the European Commission,

Whereas:

(1)On 14 May 2013, the Council authorised the Commission to open negotiations with the Republic of San Marino to amend the Agreement                              between the European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council                              Directive 2003/48/EC on taxation of savings income in the form of interest payments(1) (the ‘Agreement’), in order to align it with the recent developments at global level in which it was agreed to promote automatic                              exchange of information as an international standard.

(2)The text of the Amending Protocol to the Agreement (the ‘Amending Protocol’), which is the result of the negotiations, duly                              reflects the negotiating directives issued by the Council as it aligns the Agreement with the latest developments at international                              level concerning the automatic exchange of information, namely, with the global standard for automatic exchange of financial                              account information in tax matters developed by the Organisation for Economic Cooperation and Development (OECD). The Union,                              the Member States and the Republic of San Marino have actively participated in the work of the Global Forum of the OECD for                              supporting the development and implementation of this standard. The text of the Agreement, as amended by the Amending Protocol,                              is the legal basis for implementing the global standard in the relations between the Union and the Republic of San Marino.

(3)The Amending Protocol should be signed on behalf of the Union.

(4)In view of orientations expressed by the Member States and the Republic of San Marino in the framework of the Global Forum                              of the OECD, the Amending Protocol should be applied on a provisional basis as from 1 January 2016, pending the completion                              of the procedures for its conclusion and entry into force,

HAS ADOPTED THIS DECISION:

# Article 1U.K.

The signing on behalf of the Union of the Amending Protocol to the Agreement between the European Community and the Republic                     of San Marino providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings                     income in the form of interest payments is hereby authorised, subject to the conclusion of the said Amending Protocol.                  

The text of the Amending Protocol is attached to this Decision.

# Article 2U.K.

The President of the Council is hereby authorised to designate the person(s) empowered to sign the Amending Protocol on behalf                     of the Union.                  

# Article 3U.K.

Subject to reciprocity, the Amending Protocol shall be applied on a provisional basisas from 1 January 2016, pending the completion                     of the procedures necessary for its conclusion(2).                  

The President of the Council shall, on behalf of the Union, notify the Republic of San Marino of its intention to apply the                     Amending Protocol provisionally, subject to reciprocity, as from 1 January 2016.                  

# Article 4U.K.

This Decision shall enter into force on the date of its adoption.

Done at Brussels, 8 December 2015.

*For the Council*                            

*The President*                            

P. Gramegna                            

1

OJ L 381, 28.12.2004, p. 33.                           

2

The date from which the Amending Protocol will be provisionally applied will be published in the *Official Journal of the European Union* by the General Secretariat of the Council.