As from 1 July 2005 the EU Savings Directive (EUSD) has come into effect. EUSD focuses on effective taxation of savings income paid to individuals within the EU from their cross-border savings.
All EU Member States, including a number of non-EU members have adopted the provisions of EUSD either by adhering automatic exchange of information between tax authorities, or by applying withholding tax.
Whether you are an individual earning interest in a country in which you are not a tax resident or an interest paying agent (individual or business) in a country which applies the EUSD then you will be directly affected.
The Challenge
The most important factors to determine are the identity and location of the paying agent, as well as to ascertain the impact on individual investors depending on the location of their savings.
PwC Solution
Our aim is to provide our clients with the most reliable and accurate tax advice. To achieve this, we facilitate our people in developing the appropriate level of knowledge and expertise through our connection to the PwC global network in 140 countries.
Benefits for you
Through our skilled personnel, and the close relationships we maintain with all our clients and worldwide colleagues, we as PwC Cyprus are in a position to provide you with up-to-date advice on the impact of the EUSD on your financial and tax position.
Why PwC?
- Extensive global PwC network connecting 23.000 tax professionals in 140 countries
- Past experience shows that we have always exceeded our clients’ expectations
