WRITTEN QUESTION E-1752/02 by Juan Naranjo Escobar (PPE-DE) to the Commission. Directive on the taxation of savings.
Date: 2002-06-19
Institutions: European Parliament, Provisional data
Subjects: Andorra, Liechtenstein, San Marino, Switzerland, United States, export of capital, international negotiations, savings, tax system, third country

17.4.2003

EN

Official Journal of the European Union

C 92 E/91

(2003/C 92 E/093)

WRITTEN QUESTION E-1752/02

by Juan Naranjo Escobar (PPE-DE) to the Commission

(19 June 2002)

Subject: Directive on the taxation of savings

The adoption of the Directive on the taxation of savings is tied in with developments in the negotiations
with third countries aimed at their adopting equivalent measures that will prevent a wholesale flight of
financial assets to the countries concerned (USA, Switzerland, Andorra, Liechtenstein and San Maríno).

Can the Commission indicate what stage these negotiations have reached?

Answer given by Mr Bolkestein on behalf of the Commission

(26 July 2002)

On 16 October 2001 the Ecofin Council gave the Commission a mandate to initiate negotiations with the
United States and five other non-Community countries (Switzerland, Liechtenstein, Monaco, Andorra and
San Maríno) in order to obtain sufficient assurances from them regarding the introduction in their territory
of measures equivalent to those the Union was considering adopting on the subject in the Community.

It was not possible to make a real start on these negotiations until after the Ecofin Council of
13 December 2001 had adopted a draft Directive which included all the provisions on savings tax that had
to be agreed ahead of the negotiations with the non-Community countries. This text includes amendments
to the Commission proposal of 18 July 2001 (1) on which Parliament gave its opinion at the part-session
of 14 March 2002.
the amendments made by the Council on
13 December 2001 reflect those Parliament called for in its opinion.

It should be noted that some of

The Commission has been able to meet representatives of the six countries since the beginning of 2002 to
discuss matters in accordance with the negotiating mandate and the draft Directive agreed by the Ecofin
Council on 13 December last year. On 18 June this year formal negotiations also began with Switzerland.
Discussions with the six countries are continuing and the Commission reports regularly to the Council on
the situation. The Commission is determined to complete the negotiations in time to enable the Council to
adopt the Directive on savings tax as part of a tax package agreement before the end of 2002. The
Commission will not fail to inform Parliament of the outcome of the negotiations it was asked to conduct.

(1) OJ C 270, 25.9.2001.

(2003/C 92 E/094)

WRITTEN QUESTION E-1753/02

by Juan Naranjo Escobar (PPE-DE) to the Commission

(19 June 2002)

Subject: Action programme on VAT

The Commission is working on the reforms needed to eliminate the errors that currently exist in the
‘transitional’ VAT system and fulfil the requirements of the work programme laid down in the Action
Programme on VAT.

Can the Commission indicate what stage it has reached in its work in this area?

Does it consider the objective of establishing a definitive VAT system based on the country-of-origin
principle to have been dispensed with?