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Europe Daily Bulletin No. 9462

6 July 2007
GENERAL NEWS / (eu) eu/taxation
European Commission sends Luxembourg reasoned opinion to amend its legislation on savings income

Brussels, 05/07/2007 (Agence Europe) - On Thursday, the European Commission sent Luxembourg a reasoned opinion requesting the country to amend its tax legislation on savings income paid in the form of interest to individuals resident in Luxembourg. The Commission considers that the legislation breaches the EC Treaty as it constitutes an obstacle both to the free movement of capital and to freedom to provide services. If Luxembourg does not provide a satisfactory reply to this reasoned...

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