The
European Savings
Tax Directive (ESTD)
Article 9
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.
Article 9
Automatic exchange of
information
1. The competent
authority of the Member State of the paying agent shall
communicate the information referred to in Article 8 to the
competent authority of the Member State of
residence of the beneficial owner.
2.
The communication of information shall be automatic and shall take place at least once a year, within six months
following the end of the tax year of the Member State of the
paying agent, for all interest payments made during that year.
3. The provisions of Directive 77/799/EEC shall apply to the
exchange of information under this Directive, provided that the
provisions of this Directive do not derogate therefrom.
However, Article 8 of Directive 77/799/EEC shall not apply to the
information to be provided pursuant to this chapter.
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