The EU Savings Directive

The first day of July is the date that banks and other interest payers will have to implement the provisions of the EU Savings Directive, so it is timely to remind ourselves of what that means. Almost 18 years since the idea was first mooted, EU member states will finally begin exchanging information on savings income payments from institutions resident in one EU state to individuals resident in another. The provisions will also be adhered to by certain non-EU states such as Switzerland, the Isle of Man and the Channel Islands. The non-EU jurisdictions, along with Austria, Belgium and Lu...