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dossier	COM(2015)518 - Conclusion of a protocol to the Agreement with San Marino for measures equivalent on taxation of savings income in form of ...
document	COM(2015)518
date	April 21, 2016

table>(1)In accordance with Council Decision (EU) 2015/2469 (2), the Amending Protocol to the Agreement between the European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments (the ‘Amending Protocol’) was signed on 8 December 2015, subject to its conclusion at a later date.

(2)

The text of the Amending Protocol, which is the result of negotiations, duly reflects the negotiating directive issued by the Council as it aligns the Agreement between the European Community and the Republic of San Marino providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments (3) (the ‘Agreement’) with the latest developments at international level concerning automatic exchange of information, namely, with the Global Standard for automatic exchange of financial account information in tax matters developed by the Organisation for Economic Cooperation and Development (OECD). The Union, the Member States and the Republic of San Marino have actively participated in the work of the Global Forum of the OECD for supporting the development and implementation of that Standard. The text of the Agreement, as amended by this Amending Protocol, is to be the legal basis for implementing the Global Standard in the relations between the Union and the Republic of San Marino.

(3)	The European Data Protection Supervisor was consulted in accordance with Article 28(2) of Regulation (EC) No 45/2001 of the European Parliament and of the Council (4).

(4)	The Amending Protocol should be approved,