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2015/0285(NLE) EC/Andorra Agreement: taxation of savings income in the form of interest payments. Protocol

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON SCHWAB Andreas (icon: PPE PPE), KOFOD Jeppe (icon: S&D S&D), LOONES Sander (icon: ECR ECR), VAN NIEUWENHUIZEN Cora (icon: ALDE ALDE)
Committee Opinion IMCO
Lead committee dossier:
Legal Basis:
TFEU 115, TFEU 218-p6b-ab, TFEU 218-p8-a2

Events

2016/10/01
   Final act published in Official Journal
Details

PURPOSE: to approve the conclusion of an Agreement between the EU and Andorra aiming to improve tax compliance by private savers.

NON-LEGISLATIVE ACT: Council Decision (EU) 2016/1751 on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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.

CONTENT: the Council approved, on behalf of the European Union, the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 Amending Protocol to the Agreement between the European Community and the Principality of Andorra was signed on 12 February 2016. It aligns the Agreement with the latest developments at international level concerning 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 text of the Agreement, as amended by the Amending Protocol, is the legal basis for implementing the OCDE Global Standard on automatic exchange of information between Andorra and the EU . It will extend the automatic exchange of information on financial accounts in order to prevent taxpayers from hiding capital representing income or assets for which tax has not been paid.

EN TRY INTO FORCE: 21.10.2016.

Documents
Decision 2016/1751
OJ L 268 01.10.2016, p. 0038
2016/09/20
   EP/CSL - Act adopted by Council after consultation of Parliament
2016/09/20
   EP - End of procedure in Parliament
2016/09/20
   CSL - Council Meeting
2016/03/09
   EP - Results of vote in Parliament
Documents
Results of vote in Parliament
2016/03/09
   EP - Decision by Parliament
Details

The European Parliament adopted by 647 votes to 29, with 21 abstentions, a legislative resolution on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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.

Parliament approved the conclusion of the Amending Protocol to the Agreement.

To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance.

The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard.

As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to:

identify correctly and unequivocally the taxpayers concerned; administer and enforce their tax laws in cross-border situations; assess the likelihood of tax evasion being perpetrated; avoid unnecessary further investigations.

The Agreement shall enter into force on 1 January 2017, subject to the completion of their respective internal procedures.

Documents
T8-0077/2016
2016/02/29
   EP - Committee report tabled for plenary, 1st reading/single reading
Details

The Committee on Economic and Monetary Affairs adopted the report by Miguel VIEGAS (GUE/NGL, PT) on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 committee called on the European Parliament to approve the conclusion of the Amending Protocol to the Agreement.

To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance.

Under the new agreement, the EU Member States and Andorra will automatically exchange information on the financial accounts held on their territories by each other's residents, starting in 2018 for information collected since 1 January 2017. The aim is to address situations where a taxpayer seeks to hide capital representing income or assets for which taxes have not been paid.

The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard.

As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to:

identify correctly and unequivocally the taxpayers concerned; administer and enforce their tax laws in cross-border situations; assess the likelihood of tax evasion being perpetrated; avoid unnecessary further investigations.

The EU and Andorra have agreed for the agreement to have an entry into force on 1 January 2017, subject to the completion of their respective internal procedures. The committee strongly urged that the agreement is concluded and ratified as soon as possible in order to ensure a timely entry into force.

Documents
A8-0047/2016
2016/02/25
   EP - Committee referral announced in Parliament
2016/02/25
   EP - Vote in committee
2016/02/12
   EP/CSL - Act adopted by Council after consultation of Parliament
2016/02/12
   CSL - Council Meeting
2016/02/02
   EP - Committee draft report
Documents
PE575.281
2015/12/11
   EC - Document attached to the procedure
Documents
COM(2015)0632
EUR-Lex
2015/12/11
   EC - Legislative proposal published
Details

PURPOSE: to conclude, on behalf of the European Union, the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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.

PROPOSED ACT: Council Decision.

ROLE OF THE EUROPEAN PARLIAMENT: the Council adopts the act after consulting the European Parliament but without being obliged to follow its opinion.

BACKGROUND : following the adoption of Council Directive 2003/48/EC (‘the Savings Directive’), and in order to preserve the level playing field of economic operators, the EU signed Agreements with Switzerland, Andorra, Liechtenstein, Monaco and San Marino providing for measures equivalent to those laid down in the Directive. Member States also signed agreements with the dependent territories of the United Kingdom and the Netherlands.

The importance of automatic exchange of information as a means to combat cross-border tax fraud and tax evasion has been recognised at international level. The Organisation for Economic Cooperation and Development (OECD) was mandated by the G20 to develop a single global standard for automatic exchange of financial account information. The OECD Council released the Global Standard in July 2014.

Following the adoption of a proposal to update the Savings Directive, the Commission adopted on 17 June 2011 a recommendation for a mandate to initiate negotiations with several countries, including Andorra, in order to upgrade the EU’s Agreements with those countries in line with international developments and to ensure that those countries continue to apply measures equivalent to those in the EU.

On the basis of a proposal presented by the Commission in June 2013, the Council adopted Directive 2014/107/EU amending Directive 2011/16/EU and extending the mandatory automatic exchange of information between EU tax authorities to a full range of financial items in accordance with the Global Standard.

As Directive 2014/107/EU is generally broader in scope than Directive 2003/48/EC and provides that in cases of overlap of scope, Directive 2014/107/EU prevails, on 18 March 2015 the Commission adopted a proposal to repeal Directive 2003/48/EC.

The Commission considers it crucial to ensure that the amendment of the existing Savings Agreement with Andorra is in line with EU and international developments.

This will be the legal basis for implementing the OCDE Global Standard on automatic exchange of information between Andorra and the EU.

CONTENT: the proposal calls upon the Council to approve, on behalf of the EU, the Amending Protocol to the Agreement between the European Community and Andorra 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 Amending Protocol implements the Global Standard between EU Member States and Andorra. Its introduces a new set of provisions comprising 10 Articles, an Annex I that reflects the OECD Common Reporting Standard (CRS) which is part of the Global Standard, an Annex II that reflects important parts of the OECD Commentaries to the Global Standard and an Annex III that lists the Competent Authorities of Andorra and of each Member State.

The new Articles reflect the articles of the OECD Model Competent Authority agreement for the implementation of the Global Standard . They include, inter alia:

a full set of provisions on exchange of information upon request that follows the latest text of the OECD Model Tax Convention; a more detailed set of provisions on data protection; an additional stage of consultation before any Member State or Andorra undertakes to suspend the Agreement.

Furthermore, the Protocol:

deals with issues on the transition from the existing Agreement to the amended Agreement, with regard to requests for information, credits available to beneficial owners for withholding tax, final payments of withholding tax by Andorra to Member States and final exchanges of information under the voluntary disclosure mechanism; includes a Protocol on additional safeguards related to the exchange of information on request. The text specifies that exchanges on the basis of a group request are not excluded.

The revised Agreement is supplemented by four Joint Declarations of the contracting parties and one Unilateral Declaration by Andorra.

Documents
COM(2015)0631
EUR-Lex

Documents

Activities

Votes

A8-0047/2016 - Miguel Viegas - Vote unique #

2016/03/09 Outcome: +: 647, -: 29, 0: 21
DE FR IT ES PL RO GB BE PT HU CZ SE AT EL NL BG FI DK SK LT HR IE SI LV CY MT LU EE
Total
88
68
69
51
47
31
63
21
19
19
20
18
18
20
24
15
12
12
12
11
11
10
8
7
6
6
5
5
icon: PPE PPE
206

Germany PPE

33

France PPE

19

Italy PPE

14

Spain PPE

17

Poland PPE

21

Romania PPE

12

Belgium PPE

4

Portugal PPE

6

Hungary PPE

11

Czechia PPE

7

Sweden PPE

4

Austria PPE

5

Greece PPE

5

Netherlands PPE

3

Bulgaria PPE

7

Finland PPE

3

Denmark PPE

For (1)

Bendt BENDTSEN
1

Slovakia PPE

6

Lithuania PPE

2

Croatia PPE

5

Ireland PPE

4

Slovenia PPE

5

Latvia PPE

4

Cyprus PPE

2

Malta PPE

3

Luxembourg PPE

2

Estonia PPE

For (1)

Tunne KELAM
1
icon: S&D S&D
176

Germany S&D

24

France S&D

13

Italy S&D

28

Spain S&D

13

Poland S&D

5

Romania S&D

14

United Kingdom S&D

18

Belgium S&D

4

Portugal S&D

7

Hungary S&D

4

Czechia S&D

4

Sweden S&D

5

Austria S&D

5

Greece S&D

4

Netherlands S&D

3

Bulgaria S&D

2

Finland S&D

2

Denmark S&D

3

Slovakia S&D

4

Lithuania S&D

2

Croatia S&D

2

Ireland S&D

For (1)

Nessa CHILDERS
1

Slovenia S&D

For (1)

Tanja FAJON
1

Latvia S&D

1

Cyprus S&D

2

Malta S&D

3

Luxembourg S&D

For (1)

Mady DELVAUX
1

Estonia S&D

For (1)

Marju LAURISTIN
1
icon: ALDE ALDE
65

Germany ALDE

3

France ALDE

7

Spain ALDE

7

Romania ALDE

3

United Kingdom ALDE

1

Belgium ALDE

6

Portugal ALDE

2

Czechia ALDE

4

Sweden ALDE

3

Austria ALDE

For (1)

Angelika MLINAR
1

Netherlands ALDE

7

Bulgaria ALDE

4

Finland ALDE

3

Denmark ALDE

2

Lithuania ALDE

4

Croatia ALDE

2

Ireland ALDE

For (1)

Marian HARKIN
1

Slovenia ALDE

For (1)

Ivo VAJGL
1

Latvia ALDE

1

Luxembourg ALDE

For (1)

Charles GOERENS
1

Estonia ALDE

2
icon: ECR ECR
64

Germany ECR

Against (1)

Beatrix von STORCH
6

Italy ECR

2

Poland ECR

17

Romania ECR

For (1)

Monica MACOVEI
1

United Kingdom ECR

17

Belgium ECR

4

Czechia ECR

2

Greece ECR

Abstain (1)

Notis MARIAS
1

Netherlands ECR

2

Bulgaria ECR

2

Finland ECR

2

Denmark ECR

4

Slovakia ECR

2

Lithuania ECR

1

Croatia ECR

For (1)

Ruža TOMAŠIĆ
1
icon: GUE/NGL GUE/NGL
48

Germany GUE/NGL

8

France GUE/NGL

2

Italy GUE/NGL

3

Spain GUE/NGL

10

United Kingdom GUE/NGL

1

Portugal GUE/NGL

4

Czechia GUE/NGL

2

Sweden GUE/NGL

For (1)

Malin BJÖRK
1

Greece GUE/NGL

6

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

Merja KYLLÖNEN
1

Denmark GUE/NGL

For (1)

Rina Ronja KARI
1

Ireland GUE/NGL

4

Cyprus GUE/NGL

2
icon: Verts/ALE Verts/ALE
47

Germany Verts/ALE

12

France Verts/ALE

5

Spain Verts/ALE

4

United Kingdom Verts/ALE

6

Belgium Verts/ALE

2

Hungary Verts/ALE

2

Sweden Verts/ALE

3

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Finland Verts/ALE

For (1)

Heidi HAUTALA
1

Denmark Verts/ALE

For (1)

Margrete AUKEN
1

Lithuania Verts/ALE

For (1)

Bronis ROPĖ
1

Croatia Verts/ALE

For (1)

Davor ŠKRLEC
1

Slovenia Verts/ALE

For (1)

Igor ŠOLTES
1

Latvia Verts/ALE

1

Luxembourg Verts/ALE

For (1)

Claude TURMES
1

Estonia Verts/ALE

For (1)

Indrek TARAND
1
icon: ENF ENF
36

France ENF

18

Italy ENF

5

Poland ENF

2

Romania ENF

1

United Kingdom ENF

Against (1)

Janice ATKINSON
1

Belgium ENF

For (1)

Gerolf ANNEMANS
1

Austria ENF

4

Netherlands ENF

4
icon: NI NI
13

Germany NI

2

France NI

Abstain (1)

Bruno GOLLNISCH
3

Poland NI

Against (1)

Janusz KORWIN-MIKKE
1

United Kingdom NI

For (1)

Diane DODDS
1

Hungary NI

2

Greece NI

4
icon: EFDD EFDD
41

France EFDD

1

Italy EFDD

17

Poland EFDD

1

United Kingdom EFDD

18

Czechia EFDD

Against (1)

Petr MACH
1

Sweden EFDD

2

Lithuania EFDD

For (1)

Rolandas PAKSAS
1

History

(these mark the time of scraping, not the official date of the change)

2021-12-18Show (9) Changes | Timetravel
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Rules of Procedure EP 159
2020-01-19Show (4) Changes | Timetravel
committees/0
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2019-07-06Show (17) Changes | Timetravel
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  • date: 2016-02-02T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE575.281 title: PE575.281 type: Committee draft report body: EP
events
  • date: 2015-12-11T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2015/0631/COM_COM(2015)0631(ANN)_EN.pdf title: COM(2015)0631 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2015&nu_doc=0631 title: EUR-Lex summary: PURPOSE: to conclude, on behalf of the European Union, the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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. PROPOSED ACT: Council Decision. ROLE OF THE EUROPEAN PARLIAMENT: the Council adopts the act after consulting the European Parliament but without being obliged to follow its opinion. BACKGROUND : following the adoption of Council Directive 2003/48/EC (‘the Savings Directive’), and in order to preserve the level playing field of economic operators, the EU signed Agreements with Switzerland, Andorra, Liechtenstein, Monaco and San Marino providing for measures equivalent to those laid down in the Directive. Member States also signed agreements with the dependent territories of the United Kingdom and the Netherlands. The importance of automatic exchange of information as a means to combat cross-border tax fraud and tax evasion has been recognised at international level. The Organisation for Economic Cooperation and Development (OECD) was mandated by the G20 to develop a single global standard for automatic exchange of financial account information. The OECD Council released the Global Standard in July 2014. Following the adoption of a proposal to update the Savings Directive, the Commission adopted on 17 June 2011 a recommendation for a mandate to initiate negotiations with several countries, including Andorra, in order to upgrade the EU’s Agreements with those countries in line with international developments and to ensure that those countries continue to apply measures equivalent to those in the EU. On the basis of a proposal presented by the Commission in June 2013, the Council adopted Directive 2014/107/EU amending Directive 2011/16/EU and extending the mandatory automatic exchange of information between EU tax authorities to a full range of financial items in accordance with the Global Standard. As Directive 2014/107/EU is generally broader in scope than Directive 2003/48/EC and provides that in cases of overlap of scope, Directive 2014/107/EU prevails, on 18 March 2015 the Commission adopted a proposal to repeal Directive 2003/48/EC. The Commission considers it crucial to ensure that the amendment of the existing Savings Agreement with Andorra is in line with EU and international developments. This will be the legal basis for implementing the OCDE Global Standard on automatic exchange of information between Andorra and the EU. CONTENT: the proposal calls upon the Council to approve, on behalf of the EU, the Amending Protocol to the Agreement between the European Community and Andorra 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 Amending Protocol implements the Global Standard between EU Member States and Andorra. Its introduces a new set of provisions comprising 10 Articles, an Annex I that reflects the OECD Common Reporting Standard (CRS) which is part of the Global Standard, an Annex II that reflects important parts of the OECD Commentaries to the Global Standard and an Annex III that lists the Competent Authorities of Andorra and of each Member State. The new Articles reflect the articles of the OECD Model Competent Authority agreement for the implementation of the Global Standard . They include, inter alia: a full set of provisions on exchange of information upon request that follows the latest text of the OECD Model Tax Convention; a more detailed set of provisions on data protection; an additional stage of consultation before any Member State or Andorra undertakes to suspend the Agreement. Furthermore, the Protocol: deals with issues on the transition from the existing Agreement to the amended Agreement, with regard to requests for information, credits available to beneficial owners for withholding tax, final payments of withholding tax by Andorra to Member States and final exchanges of information under the voluntary disclosure mechanism; includes a Protocol on additional safeguards related to the exchange of information on request. The text specifies that exchanges on the basis of a group request are not excluded. The revised Agreement is supplemented by four Joint Declarations of the contracting parties and one Unilateral Declaration by Andorra.
  • date: 2016-02-12T00:00:00 type: Act adopted by Council after consultation of Parliament body: EP/CSL
  • date: 2016-02-25T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2016-02-25T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
  • date: 2016-02-29T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2016-0047&language=EN title: A8-0047/2016 summary: The Committee on Economic and Monetary Affairs adopted the report by Miguel VIEGAS (GUE/NGL, PT) on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 committee called on the European Parliament to approve the conclusion of the Amending Protocol to the Agreement. To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance. Under the new agreement, the EU Member States and Andorra will automatically exchange information on the financial accounts held on their territories by each other's residents, starting in 2018 for information collected since 1 January 2017. The aim is to address situations where a taxpayer seeks to hide capital representing income or assets for which taxes have not been paid. The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard. As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to: identify correctly and unequivocally the taxpayers concerned; administer and enforce their tax laws in cross-border situations; assess the likelihood of tax evasion being perpetrated; avoid unnecessary further investigations. The EU and Andorra have agreed for the agreement to have an entry into force on 1 January 2017, subject to the completion of their respective internal procedures. The committee strongly urged that the agreement is concluded and ratified as soon as possible in order to ensure a timely entry into force.
  • date: 2016-03-09T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=26882&l=en title: Results of vote in Parliament
  • date: 2016-03-09T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0077 title: T8-0077/2016 summary: The European Parliament adopted by 647 votes to 29, with 21 abstentions, a legislative resolution on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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. Parliament approved the conclusion of the Amending Protocol to the Agreement. To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance. The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard. As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to: identify correctly and unequivocally the taxpayers concerned; administer and enforce their tax laws in cross-border situations; assess the likelihood of tax evasion being perpetrated; avoid unnecessary further investigations. The Agreement shall enter into force on 1 January 2017, subject to the completion of their respective internal procedures.
  • date: 2016-09-20T00:00:00 type: Act adopted by Council after consultation of Parliament body: EP/CSL
  • date: 2016-09-20T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2016-10-01T00:00:00 type: Final act published in Official Journal summary: PURPOSE: to approve the conclusion of an Agreement between the EU and Andorra aiming to improve tax compliance by private savers. NON-LEGISLATIVE ACT: Council Decision (EU) 2016/1751 on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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. CONTENT: the Council approved, on behalf of the European Union, the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 Amending Protocol to the Agreement between the European Community and the Principality of Andorra was signed on 12 February 2016. It aligns the Agreement with the latest developments at international level concerning 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 text of the Agreement, as amended by the Amending Protocol, is the legal basis for implementing the OCDE Global Standard on automatic exchange of information between Andorra and the EU . It will extend the automatic exchange of information on financial accounts in order to prevent taxpayers from hiding capital representing income or assets for which tax has not been paid. EN TRY INTO FORCE: 21.10.2016. docs: title: Decision 2016/1751 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32016D1751 title: OJ L 268 01.10.2016, p. 0038 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2016:268:TOC
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  • body: EC dg: url: http://ec.europa.eu/taxation_customs/index_en.htm title: Taxation and Customs Union commissioner: MOSCOVICI Pierre
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2016-10-06Show (3) Changes | Timetravel
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2016-09-29Show (4) Changes | Timetravel
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2016-03-18Show (1) Changes | Timetravel
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  • The European Parliament adopted by 647 votes to 29, with 21 abstentions, a legislative resolution on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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.

    Parliament approved the conclusion of the Amending Protocol to the Agreement.

    To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance.

    The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard.

    As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to:

    • identify correctly and unequivocally the taxpayers concerned;
    • administer and enforce their tax laws in cross-border situations;
    • assess the likelihood of tax evasion being perpetrated;
    • avoid unnecessary further investigations.

    The Agreement shall enter into force on 1 January 2017, subject to the completion of their respective internal procedures.
2016-03-11Show (3) Changes | Timetravel
activities/5/docs
  • url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2016-0077 type: Decision by Parliament, 1st reading/single reading title: T8-0077/2016
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2016-03-05Show (1) Changes | Timetravel
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  • The Committee on Economic and Monetary Affairs adopted the report by Miguel VIEGAS (GUE/NGL, PT) on the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 committee called on the European Parliament to approve the conclusion of the Amending Protocol to the Agreement.

    To recall, the European Union and Andorra signed an agreement on 12 February 2016 on the automatic exchange of financial account information, aimed at improving international tax cooperation and compliance.

    Under the new agreement, the EU Member States and Andorra will automatically exchange information on the financial accounts held on their territories by each other's residents, starting in 2018 for information collected since 1 January 2017. The aim is to address situations where a taxpayer seeks to hide capital representing income or assets for which taxes have not been paid.

    The agreement aims at ensuring that Andorra applies strengthened measures that are equivalent to the EU legal framework and that comply with the procedures for automatic exchange of financial account information promoted by the 2014 OECD Global standard.

    As a result of the new agreement, tax administrations in the Member States and in Andorra will be able to:

    • identify correctly and unequivocally the taxpayers concerned;
    • administer and enforce their tax laws in cross-border situations;
    • assess the likelihood of tax evasion being perpetrated;
    • avoid unnecessary further investigations.

    The EU and Andorra have agreed for the agreement to have an entry into force on 1 January 2017, subject to the completion of their respective internal procedures. The committee strongly urged that the agreement is concluded and ratified as soon as possible in order to ensure a timely entry into force.
2016-03-02Show (1) Changes | Timetravel
activities/4/docs
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2016-03-01Show (2) Changes | Timetravel
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2016-02-27Show (3) Changes | Timetravel
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2016-02-17Show (2) Changes | Timetravel
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  • PURPOSE: to conclude, on behalf of the European Union, the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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.

    PROPOSED ACT: Council Decision.

    ROLE OF THE EUROPEAN PARLIAMENT: the Council adopts the act after consulting the European Parliament but without being obliged to follow its opinion.

    BACKGROUND : following the adoption of Council Directive 2003/48/EC (‘the Savings Directive’), and in order to preserve the level playing field of economic operators, the EU signed Agreements with Switzerland, Andorra, Liechtenstein, Monaco and San Marino providing for measures equivalent to those laid down in the Directive. Member States also signed agreements with the dependent territories of the United Kingdom and the Netherlands.

    The importance of automatic exchange of information as a means to combat cross-border tax fraud and tax evasion has been recognised at international level. The Organisation for Economic Cooperation and Development (OECD) was mandated by the G20 to develop a single global standard for automatic exchange of financial account information. The OECD Council released the Global Standard in July 2014.

    Following the adoption of a proposal to update the Savings Directive, the Commission adopted on 17 June 2011 a recommendation for a mandate to initiate negotiations with several countries, including Andorra, in order to upgrade the EU’s Agreements with those countries in line with international developments and to ensure that those countries continue to apply measures equivalent to those in the EU.

    On the basis of a proposal presented by the Commission in June 2013, the Council adopted Directive 2014/107/EU amending Directive 2011/16/EU and extending the mandatory automatic exchange of information between EU tax authorities to a full range of financial items in accordance with the Global Standard.

    As Directive 2014/107/EU is generally broader in scope than Directive 2003/48/EC and provides that in cases of overlap of scope, Directive 2014/107/EU prevails, on 18 March 2015 the Commission adopted a proposal to repeal Directive 2003/48/EC.

    The Commission considers it crucial to ensure that the amendment of the existing Savings Agreement with Andorra is in line with EU and international developments.

    This will be the legal basis for implementing the OCDE Global Standard on automatic exchange of information between Andorra and the EU.

    CONTENT: the proposal calls upon the Council to approve, on behalf of the EU, the Amending Protocol to the Agreement between the European Community and Andorra 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 Amending Protocol implements the Global Standard between EU Member States and Andorra. Its introduces a new set of provisions comprising 10 Articles, an Annex I that reflects the OECD Common Reporting Standard (CRS) which is part of the Global Standard, an Annex II that reflects important parts of the OECD Commentaries to the Global Standard and an Annex III that lists the Competent Authorities of Andorra and of each Member State.

    The new Articles reflect the articles of the OECD Model Competent Authority agreement for the implementation of the Global Standard. They include, inter alia:

    • a full set of provisions on exchange of information upon request that follows the latest text of the OECD Model Tax Convention;
    • a more detailed set of provisions on data protection;
    • an additional stage of consultation before any Member State or Andorra undertakes to suspend the Agreement.

    Furthermore, the Protocol:

    • deals with issues on the transition from the existing Agreement to the amended Agreement, with regard to requests for information, credits available to beneficial owners for withholding tax, final payments of withholding tax by Andorra to Member States and final exchanges of information under the voluntary disclosure mechanism;
    • includes a Protocol on additional safeguards related to the exchange of information on request. The text specifies that exchanges on the basis of a group request are not excluded.

    The revised Agreement is supplemented by four Joint Declarations of the contracting parties and one Unilateral Declaration by Andorra.
2015-12-19Show (5) Changes
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  • date: 2015-12-11T00:00:00 docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2015/0631/COM_COM(2015)0631(ANN)_EN.pdf title: COM(2015)0631 type: Legislative proposal published celexid: CELEX:52015PC0631:EN body: EC type: Legislative proposal published commission:
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  • body: EP responsible: False committee_full: Internal Market and Consumer Protection committee: IMCO
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