The
European Savings
Tax Directive (ESTD)
Article 1
Directive 2003/48/EC on the taxation of savings income in
the form of interest payments (the '2003 Directive') was adopted
on 3 June 2003.
CHAPTER I
Article 1
Aim
1. The ultimate aim of the Directive is to enable savings income
in the form of interest payments made in one Member State to
beneficial owners who are individuals resident for tax
purposes in another Member State to be made subject to effective
taxation in accordance with the laws of the latter Member State.
2. Member States
shall take the necessary measures to ensure that the tasks
necessary for the implementation of this Directive are carried out
by paying agents established within their territory, irrespective
of the place of establishment of the debtor of the debt claim
producing the interest.
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