Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments
Modified by
- Council Directive 2004/66/ECof 26 April 2004adapting Directives 1999/45/EC, 2002/83/EC, 2003/37/EC and 2003/59/EC of the European Parliament and of the Council and Council Directives 77/388/EEC, 91/414/EEC, 96/26/EC, 2003/48/EC and 2003/49/EC, in the fields of free movement of goods, freedom to provide services, agriculture, transport policy and taxation, by reason of the accession of the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia, 32004L0066, May 1, 2004
- Council Decisionof 19 July 2004on the date of application of Directive 2003/48/EC on taxation of savings income in the form of interest payments(2004/587/EC), 32004D0587, August 4, 2004
- Council Directive 2006/98/ECof 20 November 2006adapting certain Directives in the field of taxation, by reason of the accession of Bulgaria and Romania, 32006L0098, December 20, 2006
- Council Directive 2014/48/EUof 24 March 2014amending Directive 2003/48/EC on taxation of savings income in the form of interest payments, 32014L0048, April 15, 2014
- Council Directive (EU) 2015/2060of 10 November 2015repealing Directive 2003/48/EC on taxation of savings income in the form of interest payments, 32015L2060, November 18, 2015
(a) "economic operator" means a credit or financial institution, any other legal person, or natural person, which on a regular basis or occasionally makes or secures an interest payment within the meaning of this Directive while acting in the exercise of its professional activity; (b) "place of effective management" of an entity, with or without legal personality, means the address where are taken key management decisions that are necessary for the conduct of the entity's activity as a whole. Where such decisions are taken in more than one country or jurisdiction, the place of effective management shall be considered to be at the address where most of the key management decisions are taken relating to the assets producing interest payments within the meaning of this Directive; (c) "place of effective management" of a trust or other legal arrangement means: (i) the permanent address of the natural person who has the principal responsibility for the key management decisions relating to the assets of the legal arrangement, or in the case of a trust, the permanent address of the trustee. Where more than one natural person has such principal responsibility, the place of effective management shall be considered to be at the permanent address of the person who has the principal responsibility for most of the key management decisions relating to the assets producing interest payments within the meaning of this Directive; or (ii) the address where the legal person which has the principal responsibility to manage the assets of the legal arrangement, or in the case of a trust, the trustee, takes the key management decisions relating to these assets. Where key management decisions are taken in more than one country or jurisdiction, the place of effective management shall be considered to be at the address where most of the key management decisions are taken relating to the assets producing interest payments within the meaning of this Directive;
(d) "subject to effective taxation" means that an entity or a legal arrangement is liable to tax on all its income, or on the part of its income attributable to its non-resident participants, including on any interest payment.
(a) he acts as a paying agent within the meaning of Article 4(1); (b) he acts on behalf of an entity, with or without legal personality, and discloses to the economic operator making or securing the interest payment the name, the legal form, the address of the place of establishment of the entity, and, if it is in a different country or jurisdiction, the address of the place of effective management of the entity; (c) he acts on behalf of a legal arrangement and discloses to the economic operator making or securing the interest payment the name if any, the legal form, the address of the place of effective management of the legal arrangement and the name of the legal or natural person referred to in point (c) of Article 1a; or (d) he acts on behalf of another individual who is the beneficial owner and discloses to the paying agent the identity of that beneficial owner in accordance with Article 3(2).
(a) any individual who is entitled to receive the income arising from the assets producing such payment, or who is entitled to receive other assets representing such payment when the entity or legal arrangement receives the payment or when the payment is secured on its behalf, in proportion to his entitlement to that income; (b) for any part of the income arising from the assets producing such payment, or of the other assets representing such payment, to which none of the individuals referred to in point (a) are entitled when the entity or legal arrangement receives the payment or when the payment is secured on its behalf, any individual who has directly or indirectly contributed to the assets of the entity or legal arrangement concerned, regardless of whether such individual is entitled to the assets or income of the entity or legal arrangement; (c) if none of the individuals referred to in point (a) or (b) are collectively or severally entitled to all of the income arising from the assets producing such payment, or to all the other assets representing such payment, at the time of receipt or securing of the interest payment, any individual, in proportion to his entitlement to that income, who, at a later date, becomes entitled to all or part of the assets producing the interest payment or to other assets representing such interest payment. The total amount that shall be deemed to accrue to such individual shall not exceed the amount of the interest payment received by or secured for the entity or legal arrangement, after deduction of any part that has been attributed in accordance with this paragraph to an individual referred to in point (a) or (b).
(a) for contractual relations entered into before 1 January 2004 , the paying agent shall establish the identity of the beneficial owner, consisting of the name and address, by using the information at its disposal, in particular pursuant to the regulations in force in its State of establishment and to Directive 2005/60/EC;(b) for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004 , the paying agent shall establish the identity of the beneficial owner, consisting of the name, address, date and place of birth and, in accordance with the list referred to in paragraph 4, the tax identification number or equivalent allocated by the Member State where the beneficial owner is resident for tax purposes. For contractual relations entered into, or transactions carried out in the absence of contractual relations, before1 July 2015 information about date and place of birth is only required where no such tax identification number or equivalent is available.
(a) for contractual relations entered into before 1 January 2004 , the paying agent shall establish the current permanent address of the beneficial owner by using the best information at its disposal, in particular pursuant to the regulations in force in its State of establishment and to Directive 2005/60/EC;(b) for contractual relations entered into, or transactions carried out in the absence of contractual relations, on or after 1 January 2004 , the paying agent shall establish the current permanent address of the beneficial owner on the basis of the address resulting from the identification procedures set out in point (b) of the first subparagraph of paragraph 2 to be updated on the basis of the most recent documentation that is available to the paying agent.
(a) it makes an interest payment to, or secures such a payment for, another economic operator, including a permanent establishment or a subsidiary of the first economic operator, established outside the territory referred to in Article 7 and outside the territorial scope of agreements and arrangements providing for the same measures as or measures equivalent to those set out in this Directive; and (b) the first economic operator has reasons to believe, on the basis of available information, that the second economic operator will pay the income to, or secure such a payment for the immediate benefit of a beneficial owner who is an individual known by the first economic operator to be a resident of another Member State, having regard to Article 3.
(i) the name, if any, of the entity or legal arrangement; (ii) its legal form; (iii) its place of effective management; (iv) the total amount of the interest payment, specified in accordance with Article 8, made to, or secured for, the entity or legal arrangement; (v) the date of the latest interest payment.
(i) the amount of interest payment received by or secured for the entity or legal arrangement that is still not covered by past entitlements to the relevant assets; (ii) the date of the last interest payment received by or secured for the entity or legal arrangement or the last date that an individual became entitled to all or part of the assets producing such interest payment or to other assets representing the interest payment, whichever date is the later.
(a) it is an undertaking for collective investment or other collective investment fund or scheme as defined in point (d)(i) and (iii) or point (e)(i) and (iii) of the first subparagraph of Article 6(1); (b) it is an institution providing pension or insurance services or an undertaking mandated by such an institution to manage its assets; (c) it is acknowledged under the procedures applicable in the Member State where it is resident for tax purposes or has its place of effective management that it is to be exempt from effective taxation under the general rules for direct taxation because it serves exclusively charitable purposes for the public benefit; (d) it constitutes a shared beneficial ownership for which the economic operator making or securing the payment has established the identity and residence of all the beneficial owners in accordance with Article 3 and the economic operator therefore is the paying agent in accordance with paragraph 1 of this Article.
(a) for Member States, any of the authorities notified by the Member States to the Commission; (b) for third countries, the competent authority for the purposes of bilateral or multilateral tax conventions or, failing that, such other authority as is competent to issue certificates of residence for tax purposes.
(a) interest paid or credited to an account, relating to debt claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtor's profits, and, in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures; penalty charges for late payments shall not be regarded as interest payments; (b) any income paid or realised, or credited to an account, relating to securities of any kind, except where the income is directly considered to be an interest payment in accordance with point (a), (c), (d) or (e), and where: (i) the conditions of a return of capital defined at the issuing date include a commitment towards the investor that he receives, at the end of the term, at least 95 % of the capital invested; or (ii) the conditions defined at the issuing date provide for a link of at least 95 % of the income from the security to interest or income of the kinds referred to in point (a), (c), (d) or (e);
(c) interest accrued or capitalised at the sale, refund or redemption of the debt claims referred to in point (a) and any income accrued or capitalised at the sale, refund or redemption of the securities referred to in point (b); (d) income deriving from payments referred to in point (a), (b) or (c) of this paragraph either directly or indirectly, including via an entity or a legal arrangement referred to in Article 4(2), if distributed by any of the following: (i) undertakings for collective investment or other collective investment funds or schemes, that either are registered as such in accordance with the law of any of the Member States or of the countries of the European Economic Area which do not belong to the Union, or have fund rules or instruments of incorporation governed by the law relating to collective investment funds or schemes of one of these States or countries. This applies irrespective of the legal form of such undertakings, funds or schemes and irrespective of any restriction to a limited group of investors of the purchase, sale or redemption of their shares or units; (ii) entities having exercised the option under Article 4(3); (iii) any collective investment fund or scheme established outside the territory referred to in Article 7 and outside the European Economic Area. This applies irrespective of the legal form of that fund or scheme and irrespective of any restriction to a limited group of investors of the purchase, sale or redemption of its shares or units;
(e) income realised upon the sale, refund or redemption of shares or units in the following undertakings, entities, investment funds or schemes, if they invest, directly or indirectly via other such undertakings, funds or schemes, or via entities or legal arrangements referred to in Article 4(2), more than 40 % of their assets in debt claims as referred to in point (a) of this paragraph or in securities as referred to in point (b) thereof: (i) undertakings for collective investment or other collective investment funds or schemes that either are registered as such in accordance with the law of any of the Member States or of the countries of the European Economic Area which do not belong to the Union, or have fund rules or instruments of incorporation governed by the law relating to collective investment funds or schemes of one of these States or countries. This applies irrespective of the legal form of such undertakings, funds or schemes and irrespective of any restriction to a limited group of investors of the purchase, sale or redemption of their shares or units; (ii) entities having exercised the option under Article 4(3); (iii) any collective investment fund or scheme established outside the territory referred to in Article 7 and outside the European Economic Area. This applies irrespective of the legal form of that fund or scheme and irrespective of any restriction to a limited group of investors of the purchase, sale or redemption of its shares or units.
For the purpose of this point, assets which the undertakings or entities or investment funds or schemes are required to hold as collateral under the terms of their agreements, contracts or other legal documentation in order to enable them to meet their investment objectives, and to which the investor is not a party and has no legal rights, are not regarded as debt claims as referred to in point (a) or as securities as referred to in point (b); (f) benefits from a life insurance contract, if: (i) the contract contains a guarantee of income return; or (ii) the actual performance of the contract is at more than 40 % linked to interest or income referred to in points (a), (b), (c), (d) and (e).
For the purpose of this point the excess of any repayment or partial repayment made by the life insurer before the maturity of the life insurance contract as well as the excess of any amount paid out by the life insurer over the sum of the payments made to the life insurer under the same life insurance contract, shall be considered to be a benefit from a life insurance contract. In the case of assignment, in whole or in part, of a life insurance to a third party, the excess of the value of the contract conferred over the sum of all the payments made to the life insurer shall also be considered to be a benefit from a life insurance contract. A benefit from a life insurance contract which solely provides for a pension, or a fixed annuity, paid for at least five years, shall be considered as such only if it is a repayment or an assignment to a third party that is made before the end of the five-year period. An amount paid out solely in respect of death, disability or illness shall not be considered to be a benefit from a life insurance contract. However, Member States shall have the option of including income mentioned under point (e) of the first subparagraph in the definition of interest payment, for undertakings for collective investment or other collective investment funds or schemes, that either are registered in accordance with their rules or have fund rules or instruments of incorporation governed by their law, only to the extent that such income corresponds to gains directly or indirectly deriving from interest payments within the meaning of point (a), (b) or (c) of that subparagraph. As regards point (f)(ii) of the first subparagraph, a Member State shall have the option of including in the definition of interest payment benefits regardless of the composition of performance, if paid by or obtained from a life insurer established within that State. Where a Member State exercises one or both of the options referred to in the second and third subparagraphs, it shall notify the Commission thereof. The Commission shall publish in the Official Journal of the European Union the fact that the option has been exercised and, with effect from the date of such publication, the exercise of the option shall be binding on the other Member States.
(a) the fund rules or instruments of incorporation of the undertakings or entities or investment funds or schemes concerned; (b) any agreement, contract or other legal documentation entered into by the undertakings or entities or investment funds or schemes concerned which is made available to an economic operator; and (c) any prospectus or similar document issued by or on behalf of the undertakings or entities or investment funds or schemes concerned which is made available to its investors.
(a) the identity and residence of the beneficial owner established in accordance with Article 3 or, in cases of shared beneficial ownership, the identity and residence of all beneficial owners who fall within the scope of Article 1(1); (b) the name and address of the paying agent; (c) the account number of the beneficial owner or, where there is none, identification of the debt claim giving rise to the interest payment or of the life insurance contract, security or share or unit giving rise to that payment; (d) information concerning the interest payment in accordance with paragraph 2.
(i) the total amount of its interest payments received or secured that is deemed to accrue to its beneficial owners; (ii) where an individual becomes a beneficial owner according to point (c) of Article 2(4), the amount that is deemed to accrue to that individual and the date of such deemed accrual.
(a) in the case of an interest payment within the meaning of point (a) of the first subparagraph of Article 6(1): the amount of interest paid or credited; (b) in the case of an interest payment within the meaning of point (b) of the first subparagraph of Article 6(1): either the amount of any income paid, realised or credited or the total amount of the payment; (c) in the case of an interest payment within the meaning of point (c) or (e) of the first subparagraph of Article 6(1): either the amount of interest or income referred to in those points or the total amount of the proceeds from the sale, redemption or refund; (d) in the case of an interest payment within the meaning of point (d) of the first subparagraph of Article 6(1): either the amount of income referred to in that point or the total amount of the distribution; (e) in the case of an interest payment within the meaning of Article 6(4): the amount of interest attributable to each of the beneficial owners who fall within the scope of Article 1(1); (f) where a Member State exercises the option under Article 6(5): the amount of annualised interest or other relevant income; (g) in the case of an interest payment within the meaning of point (f) of the first subparagraph of Article 6(1): either the benefit calculated in accordance with that provision or the total amount of the payment. If, in the case of assignment to a third party, the paying agent has no information about the value conferred: the sum of the payments made to the life insurer under the life insurance contract.
(a) in the case of interest payments within the meaning of point (a), (b) or (d) of the first subparagraph of Article 6(1): the total amount of interest or income; (b) in the case of interest payments within the meaning of point (c) or (e) of the first subparagraph of Article 6(1): the total amount of the proceeds from the sale, redemption or refund related to such payments; (c) in the case of interest payments within the meaning of point (f) of the first subparagraph of Article 6(1): either the benefits about which the competent authority of the Member State of residence of the beneficial owner has not otherwise been informed by the paying agent, either directly or via its fiscal representative or the competent authority of another Member State, pursuant to any legislative provision different from those necessary to implement this Directive, or the total amount paid out under life insurance contracts generating such payments.
(i) all interest payments; (ii) all occasions when individuals have become beneficial owners according to Article 2(4); (iii) all changes of place of effective management of a paying agent referred to in Article 4(2).
the date of entry into force of an agreement between the European Community, following a unanimous decision of the Council, and the last of the Swiss Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra, providing for the exchange of information upon request as defined in the OECD Model Agreement on Exchange of Information on Tax Matters released on 18 April 2002 (hereinafter the "OECD Model Agreement") with respect to interest payments, as defined in this Directive, made by paying agents established within their respective territories to beneficial owners resident in the territory to which the Directive applies, in addition to the simultaneous application by those same countries of a withholding tax on such payments at the rate defined for the corresponding periods referred to in Article 11(1),the date on which the Council agrees by unanimity that the United States of America is committed to exchange of information upon request as defined in the OECD Model Agreement with respect to interest payments, as defined in this directive, made by paying agents established within its territory to beneficial owners resident in the territory to which the Directive applies.
(a) in the case of an interest payment within the meaning of point (a) of the first subparagraph of Article 6(1): on the amount of interest paid or credited; (b) in the case of an interest payment within the meaning of point (b) of the first subparagraph of Article 6(1): on the amount of any income paid, realised or credited; (c) in the case of an interest payment within the meaning of point (c) or (e) of the first subparagraph of Article 6(1): either on the amount of interest or income referred to in those points or by a levy of equivalent effect to be borne by the beneficial owner on the full amount of the proceeds from the sale, redemption or refund; (d) in the case of an interest payment within the meaning of point (d) of the first subparagraph of Article 6(1): on the amount of income referred to in that point; (e) in the case of an interest payment within the meaning of Article 6(4): on the amount of interest attributable to each of the beneficial owners who fall within the scope of Article 1(1). The total amount on which tax is levied shall not exceed the amount of the interest payment received or secured by the entity or legal arrangement; (f) where a Member State exercises the option under Article 6(5): on the amount of annualised interest or other relevant income; (g) in the case of an interest payment within the meaning of point (f) of the first subparagraph of Article 6(1): on the benefit calculated in accordance with that provision. Member States may allow paying agents to levy withholding tax only on the benefits about which the competent authority of the Member State of residence of the beneficial owner has not yet been informed, by the paying agent or its fiscal representatives pursuant to any legislative provision different from those necessary to implement this Directive.
(a) a procedure which allows the beneficial owner expressly to authorise the paying agent to report information in accordance with Chapter II, such authorisation covering all interest payments attributable to the beneficial owner by that paying agent; in such a case, Article 9 shall apply; (b) a procedure which ensures that withholding tax shall not be levied where the beneficial owner presents to his paying agent a certificate drawn up in his name by the competent authority of his Member State of residence for tax purposes in accordance with paragraph 2.
(a) the name, address, tax identification number or equivalent, and the date and place of birth of the beneficial owner; (b) the name and address of the paying agent; (c) the account number of the beneficial owner or, where there is none, the identification of the security.
which contain gross-up and early redemption clauses and where the paying agent as defined in Article 4 is established in a Member State applying the withholding tax referred to in Article 11 and that paying agent pays interest to, or secures the payment of interest for the immediate benefit of, a beneficial owner resident in another Member State.
(i) the Swiss Confederation, the Principality of Liechtenstein, the Republic of San Marino, the Principality of Monaco and the Principality of Andorra apply from that same date measures equivalent to those contained in this Directive, in accordance with agreements entered into by them with the European Community, following unanimous decisions of the Council; (ii) all agreements or other arrangements are in place, which provide that all the relevant dependent or associated territories (the Channel Islands, the Isle of Man and the dependent or associated territories in the Caribbean) apply from that same date automatic exchange of information in the same manner as is provided for in Chapter II of this Directive, (or, during the transitional period defined in Article 10, apply a withholding tax on the same terms as are contained in Articles 11 and 12).
(a) specifying the data providers which may be used by paying agents for obtaining the information necessary for the proper treatment, for the purposes of points (b), (d) and (e) of the first subparagraph of Article 6(1); (b) establishing common formats and practical arrangements necessary for the electronic exchange of information referred to in Article 9; (c) establishing common forms for certificates and other documents that facilitate the application of this Directive, in particular for the documents issued in Member States levying withholding tax, which are used for the purposes of Article 14 by the Member State of residence for tax purposes of the beneficial owner.
| Countries and jurisdictions | Categories of entities and legal arrangements |
|---|---|
| Antigua and Barbuda | International business company |
| Anjouan (Comores) | |
| The Bahamas | |
| Bahrain | Financial trust, governed by local or foreign law |
| Barbados | |
| Belize | |
| Bermuda | |
| Brunei | |
| Cook Islands | |
| Costa Rica | |
| Djibouti | |
| Dominica | |
| Fiji | Trust, governed by local or foreign law |
| French Polynesia | |
| Grenada | |
| Guam | |
| Guatemala | |
| Hong Kong | |
| Kiribati | Trust, governed by local or foreign law |
| Labuan (Malaysia) | |
| Lebanon | |
| Liberia | |
| Macao | |
| Maldives | |
| Northern Marianas Islands | |
| Marshall Islands | |
| Mauritius | |
| Micronesia | |
| Nauru | |
| New Caledonia | |
| New Zealand | Trust, governed by foreign law |
| Niue | |
| Panama | |
| Palau | |
| Philippines | Trust, governed by local or foreign law |
| Puerto Rico | |
| Saint Kitts and Nevis | |
| Saint Lucia | |
| Saint Vincent and the Grenadine | |
| Sao Tomé e Principe | |
| Samoa | |
| Seychelles | |
| Singapore | Trust, governed by local or foreign law |
| Solomon Islands | |
| South Africa | Trust, governed by local or foreign law |
| Tonga | Trust, governed by local or foreign law |
| Tuvalu | |
| United Arab Emirates | |
| State of Delaware (USA) | Limited Liability Company |
| State of Wyoming (USA) | Limited Liability Company |
| US Virgin Islands | |
| Uruguay | |
| Vanuatu |
| Countries and jurisdictions | Categories of entities and legal arrangements |
|---|---|
| Andorra | Trust, governed by foreign law |
| Anguilla | |
| Aruba | |
| British Virgin Islands | |
| Cayman Islands | |
| Guernsey | |
| Isle of Man | |
| Jersey | |
| Liechtenstein | |
| Monaco | |
| Montserrat | |
| Netherlands Antilles | |
| San Marino | |
| Switzerland | |
| Turks and Caicos |
| Countries | Categories of entities and legal arrangements | Comments |
|---|---|---|
| All EU Member States | European Economic Interest Grouping (EEIG) | |
| Belgium |
| |
| Bulgaria |
| Entity exempt from corporate income tax |
| Unless the trustee can prove that the trust is actually subject to Bulgarian income taxation | ||
| Czech Republic |
| |
| Denmark |
| |
| Germany |
| |
| Estonia |
| |
| Ireland | Irish resident trustee is generally taxable on income arising to the trust. However, where the beneficiary or trustee is a non-Irish resident, only Irish source income arising in such cases is taxable. | |
| Greece |
| Partnerships are subject to corporate income tax. However, up to 50 % of the profits of partnerships is taxed in the hands of the individual partners at their personal tax rate. |
| Spain |
| |
| France |
| |
| Italy | The category of Civil law partnerships includes: ‘ | |
| The ‘tax transparency’ regime may be adopted by limited liability companies or cooperative societies whose members are individuals (Article 116 of TUIR). | ||
| Unless the trustee can provide documentation proving that the trust is fiscally resident and subject to effective corporate taxation in Italy. | ||
| Cyprus |
| |
| Only transactions with members. | ||
| Trusts created under Cypriot jurisdiction are considered transparent entities under national law. | ||
| Latvia |
| |
| Lithuania | ||
| Luxembourg | ||
| Hungary | Hungary recognises trusts as ‘entities’ under national rules | |
| Malta |
| Partnerships ‘en commandite’ the capital of which is divided into shares are subject to general CIT. |
| The Netherlands |
| General partnerships, closed partnerships and EEIGs are transparent for tax purposes. |
| ||
| Austria |
| |
| Poland |
| |
| Portugal |
| |
| Article 33 of EBF, applicable to companies licensed until | ||
| The only trusts admitted under Portuguese law are those set up under foreign law by legal persons in the International Business Centre of Madeira. | ||
| Romania |
| |
| Slovenia | ||
| Slovak Republic |
| |
| Finland |
| |
| Sweden |
| |
| United Kingdom |
| General partnerships, limited partnerships; limited liability partnerships are transparent for tax purposes. |
| Gibraltar |
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entities within the European Union: Belgium Vlaams Gewest (Flemish Region) Région wallonne (Walloon Region) Région bruxelloise/Brussels Gewest (Brussels Region) Communauté française (French Community) Vlaamse Gemeenschap (Flemish Community) Deutschsprachige Gemeinschaft (German-speaking Community) Bulgaria Общините (municipalities) Социалноосигурителни фондове (Social Security Funds) Spain Xunta de Galicia (Regional Executive of Galicia) Junta de Andalucía (Regional Executive of Andalusia) Junta de Extremadura (Regional Executive of Extremadura) Junta de Castilla-La Mancha (Regional Executive of Castilla-La Mancha) Junta de Castilla-León (Regional Executive of Castilla-León) Gobierno Foral de Navarra (Regional Government of Navarre) Govern de les Illes Balears (Government of the Balearic Islands) Generalitat de Catalunya (Autonomous Government of Catalonia) Generalitat de Valencia (Autonomous Government of Valencia) Diputación General de Aragón (Regional Council of Aragon) Gobierno de las Islas Canarias (Government of the Canary Islands) Gobierno de Murcia (Government of Murcia) Gobierno de Madrid (Government of Madrid) Gobierno de la Comunidad Autónoma del País Vasco/Euzkadi (Government of the Autonomous Community of the Basque Country) Diputación Foral de Guipúzcoa (Regional Council of Guipúzcoa) Diputación Foral de Vizcaya/Bizkaia (Regional Council of Vizcaya) Diputación Foral de Alava (Regional Council of Alava) Ayuntamiento de Madrid (City Council of Madrid) Ayuntamiento de Barcelona (City Council of Barcelona) Cabildo Insular de Gran Canaria (Island Council of Gran Canaria) Cabildo Insular de Tenerife (Island Council of Tenerife) Instituto de Crédito Oficial (Public Credit Institution) Instituto Catalán de Finanzas (Finance Institution of Catalonia) Instituto Valenciano de Finanzas (Finance Institution of Valencia) Greece Οργανισμός Τηλεπικοινωνιών Ελλάδος (National Telecommunications Organisation) Οργανισμός Σιδηροδρόμων Ελλάδος (National Railways Organisation) Δημόσια Επιχείρηση Ηλεκτρισμού (Public Electricity Company) France La Caisse d'amortissement de la dette sociale (CADES) (Social Debt Redemption Fund) L'Agence française de développement (AFD) (French Development Agency) Réseau Ferré de France (RFF) (French Rail Network) Caisse Nationale des Autoroutes (CNA) (National Motorways Fund) Assistance publique Hôpitaux de Paris (APHP) (Paris Hospitals Public Assistance) Charbonnages de France (CDF) (French Coal Board) Entreprise minière et chimique (EMC) (Mining and Chemicals Company) Italy Regions Provinces Municipalities Cassa Depositi e Prestiti (Deposits and Loans Fund) Latvia Pašvaldības (local governments) Poland gminy (communes) powiaty (districts) województwa (provinces) związki gmin (associations of communes) powiatów (association of districts) województw (association of provinces) miasto stołeczne Warszawa (capital city of Warsaw) Agencja Restrukturyzacji i Modernizacji Rolnictwa (Agency for Restructuring and Modernisationof Agriculture) Agencja Nieruchomości Rolnych (Agricultural Property Agency) Portugal Região Autónoma da Madeira (Autonomous Region of Madeira) Região Autónoma dos Açores (Autonomous Region of Azores) Municipalities Romania autoritățile administrației publice locale (local public administration authorities) Slovakia mestá a obce (municipalities) Železnice Slovenskej republiky (Slovak Railway Company) Štátny fond cestného hospodárstva (State Road Management Fund) Slovenské elektrárne (Slovak Power Plants) Vodohospodárska výstavba (Water Economy Building Company) international entities: European Bank for Reconstruction and Development European Investment Bank Asian Development Bank African Development Bank World Bank/IBRD/IMF International Finance Corporation Inter-American Development Bank Council of Europe Soc. Dev. Fund Euratom European Community Corporación Andina de Fomento (CAF) (Andean Development Corporation) Eurofima European Coal & Steel Community Nordic Investment Bank Caribbean Development Bank
The provisions of Article 15 are without prejudice to any international obligations that Member States may have entered into with respect to the abovementioned international entities. entities in third countries: Those entities that meet the following criteria: 1. the entity is clearly considered to be a public entity according to the national criteria; 2. such public entity is a non-market producer which administers and finances a group of activities, principally providing non-market goods and services, intended for the benefit of the community and which are effectively controlled by general government; 3. such public entity is a large and regular issuer of debt; 4. the State concerned is able to guarantee that such public entity will not exercise early redemption in the event of gross-up clauses.
Number and percentage of syntactically invalid records that can be processed; Number and percentage of syntactically invalid records that cannot be processed; Number and percentage of non-processed records; Number and percentage of records corrected upon request; Number and percentage of records corrected spontaneously; Number and percentage of records processed successfully.