2005/35/EC: Council Decision of 7 December 2004 on the signing of the Agreement between the European Community and the Principality of Monaco providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments and the approval and signing of the accompanying Memorandum of Understanding
Date: 2004-12-07
Institutions: Council of the European Union
Subjects: Council of the European Union, EC Decision, Monaco, agreement (EU), interest, savings, tax on income, tax system

21.1.2005

EN

Official Journal of the European Union

L 19/53

II

(Acts whose publication is not obligatory)

COUNCIL

COUNCIL DECISION

of 7 December 2004

on the signing of the Agreement between the European Community and the Principality of Monaco
providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation
the
of savings income in the form of

interest payments and the approval and signing of

accompanying Memorandum of Understanding

(2005/35/EC)

THE COUNCIL OF THE EUROPEAN UNION,

the two documents that were initialled on 1 July 2004
and have confirmation of the Council approval of the
Memorandum of Understanding,

Having regard to the Treaty
establishing the European
Community, and in particular Article 94 in conjunction with
the first subparagraph of Article 300(2) thereof,

HAS DECIDED AS FOLLOWS:

Having regard to the proposal from the Commission,

Article 1

Whereas:

(1)

(2)

On 16 October 2001,
the Council authorised the
Commission to negotiate with the Principality of
for securing the adoption by
Monaco an agreement
to those to be
that State of measures equivalent
effective
applied within the Community to ensure
taxation of savings income in the form of
interest
payments.

The text of the Agreement which is the result of the
the negotiating directives
negotiations duly reflects
issued by
a
It
the Council.
Memorandum of Understanding between the European
Community and the Principality of Monaco.

accompanied by

is

of

the

between

the Agreement

Subject to the adoption at a later date of a Decision on the
conclusion
European
Community and the Principality of Monaco providing for
measures equivalent to those laid down in Council Directive
2003/48/EC (1) on taxation of savings income in the form of
interest payments,
is hereby
authorised to designate the person(s) empowered to sign that
Agreement and the accompanying Memorandum of Under-
standing as well as the Letters which have to be exchanged in
the Agreement and the
accordance with Article 21(2) of
Memorandum of Understanding,
to bind the
in order
Community.

the President of

the Council

The Memorandum of Understanding shall be approved by the
Council.

(3)

Subject to the adoption at a later date of a Decision on
the conclusion of the Agreement, it is desirable to sign

(1) OJ L 157, 26.6.2003, p. 38.

The texts of the Agreement and of the Memorandum of Under-
standing are attached to this Decision.

L 19/54

EN

Official Journal of the European Union

21.1.2005

This Decision shall be published in the Official Journal of the European Union.

Article 2

Done at Brussels, 7 December 2004.

For the Council
The President

G. ZALM