CHAPTER IIEXCHANGE OF INFORMATION

Article 8Information reporting by the paying agent1.Where the beneficial owner is resident in a Member State other than that in which the paying agent is established, the minimum amount of information to be reported by the paying agent to the competent authority of its Member State of establishment shall consist of:(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.Where the beneficial owner is resident in a Member State other than that where the paying agent according to Article 4(2) has its place of effective management, such a paying agent shall provide the competent authority of the Member State where it has its place of effective management, with the information specified in points (a) to (d) of the first subparagraph of this paragraph. In addition, such a paying agent shall report the following:(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.2.The minimum amount of information concerning interest payment to be reported by the paying agent shall distinguish between the following categories of the interest payment and indicate:(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.The paying agent shall inform the competent authority of the Member State where it is established or, in the case of a paying agent referred to in Article 4(2), it shall inform the competent authority of the Member State where it has its place of effective management when it reports the total amounts in accordance with points (b), (c), (d) and (g) of the first subparagraph of this paragraph.3.In the case of shared beneficial ownership, the paying agent shall inform the competent authority of its Member State of establishment or, in the case of a paying agent referred to in Article 4(2), it shall inform the competent authority of the Member State where it has its place of effective management whether the amount reported for each beneficial owner is the full amount attributable to the beneficial owners collectively, the actual share pertaining to the beneficial owner concerned or an equal share.4.Notwithstanding paragraph 2, Member States may allow paying agents to report only the following:(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.The paying agent shall inform whether it reports the total amounts according to points (a), (b) and (c) of the first subparagraph of this paragraph.

Article 9Automatic exchange of information1.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.1a.The competent authority of the Member State where the economic operator is established shall communicate the information referred to in the fourth subparagraph of Article 4(2) to the competent authority of another Member State where the entity or legal arrangement has its place of effective management.1b.Where a paying agent within the meaning of Article 4(2) has changed its place of effective management to another Member State, the competent authority of the first Member State shall communicate the information referred to in the seventh subparagraph of Article 4(2), to the competent authority of the new Member State.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 or economic operator, and shall cover the following events that have taken place during that year:(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).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.

CHAPTER IIITRANSITIONAL PROVISIONS

Article 10Transitional period1.During a transitional period starting on the date referred to in Article 17(2) and (3) and subject to Article 13(1), Luxembourg and Austria shall not be required to apply the provisions of Chapter II.They shall, however, receive information from the other Member States in accordance with Chapter II.During the transitional period, the aim of this Directive shall be to ensure minimum effective taxation of savings in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State.2.The transitional period shall end at the end of the first full fiscal year following the later of the following dates: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.3.At the end of the transitional period, Luxembourg and Austria shall be required to apply the provisions of Chapter II and they shall cease to apply the withholding tax and the revenue sharing provided for in Articles 11 and 12. If, during the transitional period, Luxembourg or Austria elects to apply the provisions of Chapter II, it shall no longer apply the withholding tax and the revenue sharing provided for in Articles 11 and 12.

Article 11Withholding tax1.During the transitional period referred to in Article 10, where the beneficial owner is resident in a Member State other than that in which the paying agent is established, or, in the case of a paying agent referred to in Article 4(2), where such a paying agent has its place of effective management, Luxembourg and Austria shall levy a withholding tax at a rate of 15 % during the first three years of the transitional period, 20 % for the subsequent three years and 35 % thereafter.2.The paying agent shall levy withholding tax as follows:(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.When transferring the revenue of the withholding tax to the competent authority, the paying agent shall inform it of the number of beneficial owners concerned by the levying of the withholding tax classified according to their respective Member States of residence.3.For the purposes of points (a), (b) and (c) of paragraph 2, withholding tax shall be levied pro rata to the period of holding of the debt claim by the beneficial owner. When the paying agent is unable to determine the period of holding on the basis of information in its possession, it shall treat the beneficial owner as having held the debt claim throughout its period of existence unless he provides evidence of the date of acquisition.4.The imposition of withholding tax by the Member State of the paying agent shall not preclude the Member State of residence for tax purposes of the beneficial owner from taxing the income in accordance with its national law, subject to compliance with the Treaty.5.During the transitional period, Member States levying withholding tax may provide that an economic operator making an interest payment to, or securing such a payment for, an entity or a legal arrangement referred to in Article 4(2), which has its place of effective management in another Member State, shall be considered to be the paying agent in place of the entity or legal arrangement and shall levy the withholding tax on that interest, unless the entity or legal arrangement has formally agreed to its name if any, its legal form, its place of effective management and the total amount of interest paid to it or secured for it being communicated in accordance with the fourth subparagraph of Article 4(2).

Article 12Revenue sharing1.Member States levying withholding tax in accordance with Article 11(1) shall retain 25 % of their revenue and transfer 75 % of the revenue to the Member State of residence of the beneficial owner of the interest.2.Member States levying withholding tax in accordance with Article 11(5) shall retain 25 % of the revenue and transfer 75 % to the other Member States proportionate to the transfers carried out pursuant to paragraph 1 of this Article.3.Such transfers shall take place at the latest within a period of six months following the end of the tax year of the Member State of the paying agent in the case of paragraph 1, or that of the Member State of the economic operator in the case of paragraph 2.4.Member States levying withholding tax shall take the necessary measures to ensure the proper functioning of the revenue-sharing system.

Article 13Exceptions to the withholding tax procedure1.Member States levying withholding tax in accordance with Article 11 shall provide for the following procedures in order to ensure that a beneficial owner may request that no tax be withheld:(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 2.2.At the request of the beneficial owner, the competent authority of his Member State of residence for tax purposes shall issue a certificate indicating:(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.Such certificate shall be valid for a period not exceeding three years. It shall be issued to any beneficial owner who requests it, within two months following such request.

Article 14Elimination of double taxation1.The Member State of residence for tax purposes of the beneficial owner shall ensure the elimination of any double taxation which might result from the imposition of the withholding tax referred to in Article 11, in accordance with the provisions of paragraphs 2 and 3.2.If an interest payment attributed to a beneficial owner has been subject to withholding tax in the Member State of the paying agent, the Member State of residence for tax purposes of the beneficial owner shall grant him a tax credit equal to the amount of the tax withheld in accordance with its national law. Where this amount exceeds the amount of tax due in accordance with its national law, the Member State of residence for tax purposes shall repay the excess amount of tax withheld to the beneficial owner.3.If, in addition to the withholding tax referred to in Article 11, an interest payment attributed to a beneficial owner has been subject to any other type of withholding tax and the Member State of residence for tax purposes of the beneficial owner grants a tax credit for such withholding tax in accordance with its national law or double taxation conventions, such other withholding tax shall be credited before the procedure set out in paragraph 2 is applied.4.The Member State of residence for tax purposes of the beneficial owner may replace the tax credit mechanism referred to in paragraphs 2 and 3 by a refund of the withholding tax referred to in Article 11.

Article 15Negotiable debt securities1.During the transitional period referred to in Article 10, but until 31 December 2010 at the latest, domestic and international bonds and other negotiable debt securities which have been first issued before 1 March 2001 or for which the original issuing prospectuses have been approved before that date by the competent authorities within the meaning of Council Directive 80/390/EECOJ L 100, 17.4.1980, p. 1. Directive repealed by Directive 2001/34/EC of the European Parliament and of the Council (OJ L 184, 6.7.2001, p. 1). or by the responsible authorities in third countries shall not be considered as debt claims within the meaning of Article 6(1)(a), provided that no further issues of such negotiable debt securities are made on or after 1 March 2002. However, should the transitional period referred to in Article 10 continue beyond 31 December 2010, the provisions of this Article shall only continue to apply in respect of such negotiable debt securities:which contain gross-up and early redemption clauses andwhere 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.If a further issue is made on or after 1 March 2002 of an aforementioned negotiable debt security issued by a Government or a related entity acting as a public authority or whose role is recognised by an international treaty, as defined in the Annex III, the entire issue of such security, consisting of the original issue and any further issue, shall be considered a debt claim within the meaning of Article 6(1)(a).If a further issue is made on or after 1 March 2002 of an aforementioned negotiable debt security issued by any other issuer not covered by the second subparagraph, such further issue shall be considered a debt claim within the meaning of Article 6(1)(a).2.Nothing in this Article shall prevent Member States from taxing the income from the negotiable debt securities referred to in paragraph 1 in accordance with their national laws.

CHAPTER IVMISCELLANEOUS AND FINAL PROVISIONS

Article 16Other withholding taxesThis Directive shall not preclude Member States from levying other types of withholding tax than that referred to in Article 11 in accordance with their national laws or double-taxation conventions.

Article 17Transposition1.Before 1 January 2004 Member States shall adopt and publish the laws, regulations and administrative provisions necessary to comply with this Directive. They shall forthwith inform the Commission thereof.2.Member States shall apply these provisions from 1 July 2005 provided that:(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).3.The Council shall decide, by unanimity, at least six months before 1 January 2005, whether the condition set out in paragraph 2 will be met, having regard to the dates of entry into force of the relevant measures in the third countries and dependent or associated territories concerned. If the Council does not decide that the condition will be met, it shall, acting unanimously on a proposal by the Commission, adopt a new date for the purposes of paragraph 2.4.When Member States adopt the provisions necessary to comply with this Directive, they shall contain a reference to this Directive or be accompanied by such a reference on the occasion of their official publication. Member States shall determine how such reference is to be made.5.Member States shall forthwith inform the Commission thereof and communicate to the Commission the main provisions of national law which they adopt in the field covered by this Directive and a correlation table between this Directive and the national provisions adopted.

Article 18ReviewThe Commission shall report to the Council every three years on the operation of this Directive on the basis of the statistics listed in Annex IV, which shall be provided by each Member State to the Commission. On the basis of these reports, the Commission shall, where appropriate, propose to the Council any amendments to the Directive that prove necessary in order better to ensure effective taxation of savings income and to remove undesirable distortions of competition.

Article 18aImplementing measures1.The Commission may, acting in accordance with the procedure referred to in Article 18b(2), adopt measures for the following purposes:(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.2.The Commission shall update the list set out in Annex III at the request of the Member States directly concerned.

Article 18bCommittee1.The Commission shall be assisted by the Committee on Administrative Cooperation for Taxation ("the Committee").2.Where reference is made to this paragraph, Article 5 of Regulation (EU) No 182/2011 shall apply.

Article 19Entry into forceThis Directive shall enter into force on the 20th day following that of its publication in the Official Journal of the European Union.

Article 20AddresseesThis Directive is addressed to the Member States.

nullANNEX IIndicative list of categories of entities and legal arrangements which are considered to be not subject to effective taxation, for the purposes of Article 2(3)1.Entities and legal arrangements whose place of establishment or place of effective management is in a country or jurisdiction outside the territorial scope of this Directive as defined in Article 7 and which is different from those listed in Article 17(2):

Countries and jurisdictions	Categories of entities and legal arrangements
Antigua and Barbuda	International business company
Anjouan (Comores)	Trust, governed by local or foreign lawInternational business company
The Bahamas	Trust, governed by local or foreign lawFoundationInternational business company
Bahrain	Financial trust, governed by local or foreign law
Barbados	Trust, governed by local or foreign lawInternational business companyInternational Society with Restricted Liability
Belize	Trust, governed by local or foreign lawInternational business company
Bermuda	Trust, governed by local or foreign lawExempt company
Brunei	Trust, governed by local or foreign lawInternational business companyInternational trustInternational Limited Partnership
Cook Islands	Trust, governed by local or foreign lawInternational trustInternational companyInternational partnership
Costa Rica	Trust, governed by local or foreign lawCompany
Djibouti	Exempt companyTrust, governed by foreign law
Dominica	Trust, governed by local or foreign lawInternational business company
Fiji	Trust, governed by local or foreign law
French Polynesia	Société (Company)Société de personnes (Partnership)Société en participation (Joint venture)Trust, governed by foreign law
Grenada	International business companyTrust, governed by local or foreign law
Guam	CompanySole proprietorshipPartnershipTrust, governed by foreign law
Guatemala	Trust, governed by local or foreign lawFundación (Foundation)
Hong Kong	Trust, governed by local or foreign lawPrivate Limited Company
Kiribati	Trust, governed by local or foreign law
Labuan (Malaysia)	Offshore companyMalaysian offshore bank,Offshore limited partnershipOffshore trust
Lebanon	Companies benefiting from the Offshore company regimeTrust, governed by foreign law
Liberia	Non-resident companyTrust, governed by local or foreign law
Macao	Trust, governed by local or foreign lawFundação (Foundation)
Maldives	CompanyPartnershipTrust, governed by foreign law
Northern Marianas Islands	Foreign sales corporationOffshore banking corporationTrust, governed by foreign law
Marshall Islands	Trust, governed by local or foreign lawInternational business company
Mauritius	Trust, governed by local or foreign lawGlobal business company categories 1 and 2
Micronesia	CompanyPartnershipTrust, governed by foreign law
Nauru	Trust/nominee companyCompanyPartnershipSole proprietorshipForeign willForeign estateOther form of business negotiated with the Government
New Caledonia	Société (Company)Société civile (Civil company)Société de personnes (Partnership)Joint ventureEstate of deceased personTrust, governed by foreign law
New Zealand	Trust, governed by foreign law
Niue	Trust, governed by local or foreign lawInternational business company
Panama	Fideicomiso (Trust, governed by local law) and trust governed by foreign lawFundación de interés privado (Foundation)International business company
Palau	CompanyPartnershipSole proprietorshipRepresentative officeCredit union (financial cooperative)CooperativeTrust, governed by foreign law
Philippines	Trust, governed by local or foreign law
Puerto Rico	EstateTrust, governed by local or foreign lawInternational banking entity
Saint Kitts and Nevis	Trust, governed by local or foreign lawFoundationExempt companyExempt Limited Partnership
Saint Lucia	Trust, governed by local or foreign lawInternational business company
Saint Vincent and the Grenadine	Trust, governed by local or foreign lawInternational business company
Sao Tomé e Principe	International business companyTrust, governed by foreign law
Samoa	Trust, governed by local or foreign lawInternational trustInternational companyOffshore bankOffshore insurance companyInternational partnershipLimited partnership
Seychelles	Trust, governed by local or foreign lawInternational business company
Singapore	Trust, governed by local or foreign law
Solomon Islands	CompanyPartnershipTrust, governed by local or foreign law
South Africa	Trust, governed by local or foreign law
Tonga	Trust, governed by local or foreign law
Tuvalu	Trust, governed by local or foreign lawProvident fund
United Arab Emirates	Trust, governed by local or foreign lawOffshore company
State of Delaware (USA)	Limited Liability Company
State of Wyoming (USA)	Limited Liability Company
US Virgin Islands	Trust, governed by local or foreign lawExempt company
Uruguay	Trust, governed by local or foreign lawSociedad Anónima Financiera de Inversión
Vanuatu	Trust, governed by local or foreign lawExempt companyInternational company

2.Entities and legal arrangements whose place of establishment or place of effective management is in a country or jurisdiction listed in Article 17(2), to which Article 2(3) applies pending the adoption by the country or jurisdiction concerned of provisions equivalent to those of Article 4(2):

Countries and jurisdictions	Categories of entities and legal arrangements
Andorra	Trust, governed by foreign law
Anguilla	Trust, governed by local or foreign lawInternational business company
Aruba	Trust, governed by local or foreign lawStichting Particulier Fonds
British Virgin Islands	Trust, governed by local or foreign lawCompany
Cayman Islands	Trust, governed by local or foreign lawExempt company
Guernsey	Trust, governed by local or foreign lawCompanyFoundation
Isle of Man	Trust, governed by local or foreign lawCompany
Jersey	Trust, governed by local or foreign lawCompanyFoundation
Liechtenstein	Anstalt (Trust, governed by local law) and trust governed by foreign lawStiftung (Foundation)
Monaco	Trust, governed by foreign lawFondation (Foundation)
Montserrat	Trust, governed by local or foreign lawInternational business company
Netherlands Antilles	Trust, governed by local or foreign lawStichting Particulier Fonds
San Marino	Trust, governed by local or foreign lawFondazione (Foundation)
Switzerland	Trust, governed by foreign lawFoundation
Turks and Caicos	Exempted companyLimited partnershipTrust, governed by local or foreign law

ANNEX IIIndicative list of categories of entities and legal arrangements which are considered to be not subject to effective taxation, for the purposes of Article 4(2)

The United Kingdom is the Member State responsible for the external relations of Gibraltar, under the terms of Article 355(3) of the Treaty on the Functioning of the European Union.

Countries	Categories of entities and legal arrangements	Comments
All EU Member States	European Economic Interest Grouping (EEIG)
Belgium	Société de droit commun/maatschap (Civil law or commercial company without any legal status)Société momentanée/tijdelijke handelsvennootschap (Company without any legal status whose purpose is to deal with one or several specific commercial operations)Société interne/stille handelsvennootschap (Company without any legal status through which one or more persons have an interest in operations that one or more other persons manage on their behalf)	Included only if the upstream economic operator making the interest payment to it, or securing the payment for it, has not established the identity and residence of all its beneficial owners, otherwise it falls within point (d) of Article 4(2).These ‘companies’ (the name of which is given in French and Dutch) do not have legal status, and from the point of view of taxation, a look-through approach is applicable.
Belgium	—‘Trust’ or other similar legal arrangement, governed by foreign law
Bulgaria	Дружество със специална инвестиционна цел (Special-purpose investment company)Инвестиционно дружество (Investment company, not covered by Article 6)	Entity exempt from corporate income tax
Bulgaria	—‘Trust’ or other similar legal arrangement, governed by foreign law	Unless the trustee can prove that the trust is actually subject to Bulgarian income taxation
Czech Republic	Veřejná obchodní společnost (veř. obch. spol. or v.o.s.) (Partnership)Sdružení (Association)Komanditní společnost‘Trust’ or other similar legal arrangement, governed by foreign law
Denmark	Interessentskab (General partnership)Kommanditselskab (Limited partnership)Kommanditaktieselskab/PartnerselskabPartrederi‘Trust’ or other similar legal arrangement, governed by foreign law
Germany	Gesellschaft bürgerlichen Rechts (Civil law company)Kommanditgesellschaft — KG, offene Handelsgesellschaft — OHG (Commercial partnership)‘Trust’ or other similar legal arrangement, governed by foreign law
Estonia	Seltsing (Partnership)‘Trust’ or other similar legal arrangement, governed by foreign law
Ireland	—Partnership and investment club	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	Ομόρρυθμος εταιρεία (OE) (General partnership)Ετερόρρυθμος εταιρεία (EE) (Limited partnership)	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.
Greece	—‘Trust’ or other similar legal arrangement, governed by foreign law
Spain	Entities subject to the system for taxing attribution of profits:Sociedad civil con o sin personalidad jurídica (Civil law partnership with or without legal personality),Herencias yacentes (Estate of a deceased person),Comunidad de bienes (Joint ownership).Other entities without legal personality that constitute a separate economic unit or a separate group of assets (Article 35(4) of the Ley General Tributaria).‘Trust’ or other similar legal arrangement, governed by foreign law
France	Société en participation (Joint venture company)Société ou association de fait (De facto company)Indivision (Joint ownership)Fiducie‘Trust’ or other similar legal arrangement, governed by foreign law
Italy	—All Civil law partnerships and assimilated entities	The category of Civil law partnerships includes: ‘società in accomandita semplice’, ‘società semplici’, associazioni (associations) among artists or professional persons for the practice of their art or profession, without legal personality ‘società in nome collettivo’, ‘società di fatto’ (irregular or ‘de facto’ partnerships) and ‘società di armamento’
	—Companies with a limited number of shareholders opting for fiscal transparency	The ‘tax transparency’ regime may be adopted by limited liability companies or cooperative societies whose members are individuals (Article 116 of TUIR).
	—‘Trust’ or other similar legal arrangement, governed by foreign law	Unless the trustee can provide documentation proving that the trust is fiscally resident and subject to effective corporate taxation in Italy.
Cyprus	Συνεταιρισμός (Partnership)Σύνδεσμος or σωματείο (Association)
	—Συνεργατικές (Cooperative)	Only transactions with members.
	—‘Trust’ or other similar legal arrangement, governed by local or foreign law	Trusts created under Cypriot jurisdiction are considered transparent entities under national law.
Latvia	Pilnsabiedrība (General partnership)Komandītsabiedrība (Limited partnership)Biedrība un nodibinājums (Association and foundation)Lauksaimniecības kooperatīvs (Agriculture cooperative)‘Trust’ or other similar legal arrangement, governed by foreign law
Lithuania	—‘Trust’ or other similar legal arrangement, governed by foreign law
Luxembourg	—‘Trust’ or other similar legal arrangement, governed by foreign law
Hungary	—‘Trust’ or other similar legal arrangement, governed by foreign law	Hungary recognises trusts as ‘entities’ under national rules
Malta	Soċjetà In Akkomandita (Partnership ‘en commandite’), the capital of which is not divided into sharesArrangement in participation (Association ‘en participation’)Soċjetà Kooperattiva (Cooperative society)	Partnerships ‘en commandite’ the capital of which is divided into shares are subject to general CIT.
The Netherlands	Vennootschap onder firma (General partnership)Commanditaire vennootschap (Closed limited partnership)	General partnerships, closed partnerships and EEIGs are transparent for tax purposes.
	Vereniging (Association)Stichting (Foundation)	Verenigingen (Associations) and stichtingen (foundations) are tax exempt unless they carry on a trade or business.
	—‘Trust’ or other similar legal arrangement, governed by foreign law
Austria	Offene Gesellschaft (OG) (general partnership)Offene Handelsgesellschaft (OHG) (commercial partnership)Kommanditgesellschaft (KG) (limited partnership)Gesellschaft nach bürgerlichem Recht (civil law partnership)‘Trust’ or other similar legal arrangement, governed by foreign law
Poland	Spólka jawna (Sp. j.) (General partnership)Spólka komandytowa (Sp. k.) (Limited partnership)Spólka komandytowo-akcyjna (S.K.A.) (Limited joint-stock partnership)Spólka partnerska (Sp. p.) (Professional partnership)Spolka cywilna (s.c.) (civil law company)‘Trust’ or other similar legal arrangement, governed by foreign law
Portugal	Civil law partnerships not incorporated in a commercial formIncorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same professionCompanies merely holding assets which are either controlled by a family group or fully owned by no more than five persons;
	—Companies licensed to operate on the International Business Centre of Madeira eligible for exemption from IRC (Article 33 of the EBF)	Article 33 of EBF, applicable to companies licensed until 31 December 2000, provides for an exemption from corporate income tax until 31 December 2011.
	—Unincorporated associations
	—‘Trust’ or other similar legal arrangement, governed by foreign law	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	Association (partnership)Cooperative (Cooperative)‘Trust’ or other similar legal arrangement, governed by foreign law
Slovenia	—‘Trust’ or other similar legal arrangement, governed by foreign law
Slovak Republic	Verejná obchodná spoločnosť (General partnership)Komanditná spoločnosť (Limited partnership)Združenie (Association)‘Trust’ or other similar legal arrangement, governed by foreign law
Finland	avoin yhtiö/öppet bolag (Partnership)kommandiittiyhtiö/kommanditbolag (Limited partnership)‘Trust’ or other similar legal arrangement, governed by foreign law
Sweden	handelsbolag (General partnership)kommanditbolag (Limited partnership)enkelt bolag (Simple partnership)‘Trust’ or other similar legal arrangement, governed by foreign law
United Kingdom	General partnershipLimited partnershipLimited liability partnership	General partnerships, limited partnerships; limited liability partnerships are transparent for tax purposes.
United Kingdom	—Investment club (where members are entitled to a specific share of assets)
Gibraltar	—‘Trust’ or other similar legal arrangement, governed by local or foreign law	Trust income is exempt from tax under the Income Tax Rules 1992 if:(a)the trust is created by or on behalf of a non-resident person; and(b)the income,is accrued or derived outside Gibraltar, oris received by a trust and if it had been received directly by the beneficiary, it would not be liable to tax under the Income Tax Ordinance.This does not apply if the trust is created before 1 July 1983 and the terms of the trust expressly exclude residents of Gibraltar as beneficiaries.

ANNEX IIILIST OF RELATED ENTITIES REFERRED TO IN ARTICLE 15For the purposes of Article 15, the following entities will be considered to be a "related entity acting as a public authority or whose role is recognised by an international treaty":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	RegionsProvincesMunicipalitiesCassa 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 DevelopmentEuropean Investment BankAsian Development BankAfrican Development BankWorld Bank/IBRD/IMFInternational Finance CorporationInter-American Development BankCouncil of Europe Soc. Dev. FundEuratomEuropean CommunityCorporación Andina de Fomento (CAF) (Andean Development Corporation)EurofimaEuropean Coal & Steel CommunityNordic Investment BankCaribbean Development BankThe 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.ANNEX IVLIST OF ITEMS FOR STATISTICAL PURPOSES TO BE PROVIDED ANNUALLY BY MEMBER STATES TO THE COMMISSION1.Economic items1.1.Withholding tax:For Austria and Luxembourg (as long as they apply the transitional provisions set out in Chapter III), the total annual amount of tax revenue shared from the withholding tax, split by Member State of residence of the beneficial owners.For Austria and Luxembourg (as long as they apply the transitional provisions set out in Chapter III), the total annual amount of tax revenue shared with the other Member States from the withholding tax levied under Article 11(5).Data on the total amounts collected from the withholding tax, split by Member State of residence of the beneficial owners, should also be sent to the national institution in charge of compiling balance of payments statistics.1.2.Amount of interest payments/sales proceeds:For the Member States exchanging information or having opted for the voluntary disclosure provision under Article 13, the amount of interest payments within their territory which is subject to exchange of information under Article 9, split by Member State or Dependant and Associated Territory of residence of the beneficial owners.For the Member States exchanging information or having opted for the voluntary disclosure provision under Article 13, the amount of sales proceeds within their territory which is subject to exchange of information under Article 9, split by Member State or Dependant and Associated Territory of residence of the beneficial owners.For Member States exchanging information or having opted for the voluntary disclosure mechanism, the amount of interest payments subject to exchange of information, split by type of interest payments according to the categories set out in Article 8(2).The data related to the total amounts of interest payments and sales proceeds, split by Member State of residence of the beneficial owners, should be communicated also to the national institution in charge of the compilation of Balance of Payments statistics.1.3.Beneficial owner:For all Member States, the number of beneficial owners resident in other Member States and Dependent and Associated Territories, split by Member State or Dependant and Associated Territory of residence.1.4.Paying agents:For all Member States, the number of paying agents (per sending Member State) involved in exchange of information or withholding tax for the purposes of this Directive.1.5.Paying agents upon receipt:For all Member States, the number of paying agents upon receipt having received interest payments within the meaning of Article 6(4). This concerns both sending Member States, in which interest payments have been made to paying agents upon receipt whose effective place of management is in other Member States, and receiving Member States, who have such entities or legal arrangements on their territory.2.Technical items2.1.Records:For the Member States exchanging information or having opted for the voluntary disclosure provision of Article 13, the number of records sent and received. One record means one payment for one beneficial owner.2.2.Processed/corrected records: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.3.Optional items:3.1.For the Member States, the amount of interest payments to entities or legal arrangements which is made subject to exchange of information under Article 4(2), split by Member State of the entity's place of effective management.3.2.For the Member States, the amount of sales proceeds to entities or legal arrangements which is made subject to exchange of information under Article 4(2), split by Member State of establishment of the entity.3.3.The respective shares of total annual tax collected from resident taxpayers on interest payments made to them by domestic paying agents and by foreign paying agents.

Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income in the form of interest payments

Modified by