EU, France Reach Deal On Saint-Barthélemy Savings Tax

by Ulrika Lomas, Tax-News.com, Brussels

20 February 2014



The European Union (EU) and France have inked an agreement on the application of savings tax legislation to the collectivity of Saint-Barthélemy.

The island of Saint-Barthélemy ceased to be an outermost region of the EU with effect from January 1, 2012. It gained the status of overseas country or territory. At the time, France undertook to conclude the agreements necessary to ensure that the EU's interests were preserved when the change took place.

ECOFIN President Yannis Stournaras said the agreement is "a strong expression of the willingness of France and the EU to ensure continuity and consistency in the fight against tax fraud and tax evasion."

Writing to the French Finance Minister Pierre Moscovici and EU Tax Commissioner Algirdas Šemeta, Stournaras said the agreement "contributes to avoiding loopholes by extending the territorial scope of the current Savings Directive and the Directive on Administrative cooperation."

He further stressed that "EU instruments can only work effectively where they do not leave loopholes or shortcomings which can be used by tax planners in order to avoid taxation."

.

 



Treaty Updates by Territory


Latest Treaty Updates


Treaty Update: Luxembourg - Uruguay

27/3/2015

Luxembourg's Government on March 10, 2015, confirmed that it has recently signed a DTA with Uruguay.


Treaty Update: Russia - China

25/3/2015

The Russian Government confirmed on March 18, 2015, that it has agreed to sign a Protocol with China to amend their DTA.


Treaty Update: Pakistan - Austria

25/3/2015

Pakistan and Austria signed an additional Protocol to amend their DTA on March 17, 2015.


Treaty Update: Belarus - Malaysia

25/3/2015

According to a report from Belarus's state news agency on March 17, 2015, Belarus and Malaysia have newly initialed a DTA.


Treaty Update: Hungary - Luxembourg

25/3/2015

Hungary and Luxembourg signed a DTA on March 10, 2015.


Treaty Update: Denmark - India

16/3/2015

According to a February 23, 2015, notification, a DTA Protocol between India and Denmark entered into force on February 1, 2015.


Treaty Update: Turkey - Kosovo

16/3/2015

According to preliminary media reports, Turkey's Council of Ministers approved legislation to ratify the DTA with Kosovo on February 26, 2015.


Treaty Update: Portugal - Georgia

13/3/2015

Portugal published Decree 24 of 2015 in its Official Gazette on March 5, 2015, ratifying the DTA signed with Georgia.


Treaty Update: Tajikistan - Various

13/3/2015

According to preliminary media reports, Tajikistan's lower house of parliament approved legislation to ratify DTAs with the United Kingdom and South Korea at its meeting on February 25, 2015.


Treaty Update: Italy - Guernsey

13/3/2015

The TIEA between Guernsey and Italy entered into force on March 5, 2015, following the completion of Italy's domestic ratification procedures.


Treaty Update: Ukraine - Malaysia

12/3/2015

Ukraine and Malaysia are close to concluding negotiations on a DTA, the Ukrainian Ministry of Foreign Affairs announced on February 24, 2015.


Treaty Update: Barbados - Cyprus

12/3/2015

Barbados and Cyprus are engaged in negotiations towards a DTA, the Barbados Government confirmed on March 2, 2015.


Treaty Update: Brazil - Switzerland

12/3/2015

It was confirmed on February 19, 2015, that Brazil and Switzerland are engaged in negotiations towards a TIEA.


Treaty Update: Malaysia - Georgia

11/3/2015

According to preliminary media reports, Malaysia and Georgia are engaged in negotiations towards a DTA, which is expected to be signed by the end of the year.


Treaty Update: United Kingdom - Monaco

11/3/2015

In an update on February 27, 2015, the UK Government confirmed that draft legislation has been forwarded to the House of Commons that would ratify the TIEA signed with Monaco.


Treaty Update: Kazakhstan - Vietnam

11/3/2015

Kazakhstan's lower house of Parliament on March 4, 2015, approved legislation to ratify the DTA signed with Vietnam.


Treaty Update: Australia - Switzerland

10/3/2015

Australia and Switzerland signed a TIEA to automatically exchange tax data from 2018 on March 3, 2015.


Treaty Update: Italy - Monaco

10/3/2015

Italy and Monaco signed a TIEA on March 2, 2015.


Treaty Update: Kazakhstan - Macedonia

9/3/2015

Kazakhstan approved a law ratifying the DTA with Macedonia on February 26, 2015.


Treaty Update: Guernsey - Swaziland

9/3/2015

The TIEA between Guernsey and Swaziland entered into force on March 12, 2015.


Treaty Update: Estonia - Various

6/3/2015

According to an update published on the website of Estonia's Parliament, legislation to ratify Estonia's double tax agreement's with Luxembourg and Switzerland has been approved and was forwarded, on February 12, to the nation''s President to complete the nation's domestic ratification procedures.


Treaty Update: Italy - Liechtenstein

6/3/2015

Italy and Liechtenstein signed a TIEA on February 26, 2015.


Treaty Update: India - Bahrain

5/3/2015

During the first, two-day India-Bahrain High Joint Commission Meeting that concluded on February 23, 2015, India and Bahrain agreed to resume DTA negotiations, which had been abandoned despite the initialing of an agreement in 1998.


Treaty Update: Seychelles - Various

5/3/2015

Legislation to ratify the Seychelles' DTAs with Singapore and Kenya was tabled in the National Assembly on March 2, 2015.


Treaty Update: Hong Kong - Vietnam

4/3/2015

The Government of Hong Kong on February 23, 2015, confirmed that a second Protocol to the DTA with Vietnam entered into force on January 8, 2015, and will become effective in Hong Kong for years of assessment beginning on or after April 1, 2016.


More Treaty Updates