TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Repeal of Savings Directive

Directive 2003/48/EC, which allows tax administrations access to information on private savers since 2005, was repealed by the Economic and Financial Affairs Council on 10 November 2015 following the adoption of directive 2014/107/EU which takes effect from 1 January 2016.

Directive 2014/107/EU is generally broader in scope than directive 2003/48/EC. In cases of overlap of scope, directive 2014/107/EU is to prevail.

Directive 2014/107/EU implements a single global standard developed by the OECD for the automatic exchange of information. The OECD standard was endorsed by G20 finance ministers in September 2014. EU agreements with Andorra, Liechtenstein, Monaco, San Marino and Switzerland, initially based on directive 2003/48/EC, are currently being revised to be aligned with directive 2014/107/EU and the new global standard.