Considerations on COM(2015)631 - Conclusion of an amending Protocol with Andorra providing for measures equivalent to those of the directive on taxation of savings income (interest payments)

Please note

This page contains a limited version of this dossier in the EU Monitor.

 
dossier COM(2015)631 - Conclusion of an amending Protocol with Andorra providing for measures equivalent to those of the directive on taxation of ...
document COM(2015)631 EN
date September 20, 2016
 
table>(1)In accordance with Council Decision (EU) 2016/242 (2), the Amending Protocol to the Agreement between the European Community and the Principality of Andorra 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 was signed on 12 February 2016, subject to its conclusion at a later date.
(2)The text of the Amending Protocol, which is the result of the negotiations, duly reflects the negotiating directives issued by the Council as it aligns 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, its Member States and the Principality of Andorra have actively participated in the work of the Global Forum of the OECD for supporting the development and implementation of that Global Standard. The text of the Agreement, as amended by the Amending Protocol, is the legal basis for implementing the Global Standard in the relations between the European Union and the Principality of Andorra.

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

(4)The Amending Protocol should be approved on behalf of the Union,