# Council Directive 2014/48/EU of 24 March 2014 amending Directive 2003/48/EC on taxation of savings income in the form of interest payments, Annex

Extent: E+W+S+N.I.

The Annex to Directive 2003/48/EC is amended as follows:
(1) The Annex becomes ‘Annex III’.
(2) The following Annex is inserted as ‘Annex I’:
‘ANNEX I
Indicative 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 law
International business company
The Bahamas
Trust, governed by local or foreign law
Foundation
International business company
Bahrain
Financial trust, governed by local or foreign law
Barbados
Trust, governed by local or foreign law
International business company
International Society with Restricted Liability
Belize
Trust, governed by local or foreign law
International business company
Bermuda
Trust, governed by local or foreign law
Exempt company
Brunei
Trust, governed by local or foreign law
International business company
International trust
International Limited Partnership
Cook Islands
Trust, governed by local or foreign law
International trust
International company
International partnership
Costa Rica
Trust, governed by local or foreign law
Company
Djibouti
Exempt company
Trust, governed by foreign law
Dominica
Trust, governed by local or foreign law
International 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 company
Trust, governed by local or foreign law
Guam
Company
Sole proprietorship
Partnership
Trust, governed by foreign law
Guatemala
Trust, governed by local or foreign law
Fundación (Foundation)
Hong Kong
Trust, governed by local or foreign law
Private Limited Company
Kiribati
Trust, governed by local or foreign law
Labuan (Malaysia)
Offshore company
Malaysian offshore bank,
Offshore limited partnership
Offshore trust
Lebanon
Companies benefiting from the Offshore company regime
Trust, governed by foreign law
Liberia
Non-resident company
Trust, governed by local or foreign law
Macao
Trust, governed by local or foreign law
Fundação (Foundation)
Maldives
Company
Partnership
Trust, governed by foreign law
Northern Marianas Islands
Foreign sales corporation
Offshore banking corporation
Trust, governed by foreign law
Marshall Islands
Trust, governed by local or foreign law
International business company
Mauritius
Trust, governed by local or foreign law
Global business company categories 1 and 2
Micronesia
Company
Partnership
Trust, governed by foreign law
Nauru
Trust/nominee company
Company
Partnership
Sole proprietorship
Foreign will
Foreign estate
Other form of business negotiated with the Government
New Caledonia
Société (Company)
Société civile (Civil company)
Société de personnes (Partnership)
Joint venture
Estate of deceased person
Trust, governed by foreign law
New Zealand
Trust, governed by foreign law
Niue
Trust, governed by local or foreign law
International business company
Panama
Fideicomiso (Trust, governed by local law) and trust governed by foreign law
Fundación de interés privado (Foundation)
International business company
Palau
Company
Partnership
Sole proprietorship
Representative office
Credit union (financial cooperative)
Cooperative
Trust, governed by foreign law
Philippines
Trust, governed by local or foreign law
Puerto Rico
Estate
Trust, governed by local or foreign law
International banking entity
Saint Kitts and Nevis
Trust, governed by local or foreign law
Foundation
Exempt company
Exempt Limited Partnership
Saint Lucia
Trust, governed by local or foreign law
International business company
Saint Vincent and the Grenadine
Trust, governed by local or foreign law
International business company
Sao Tomé e Principe
International business company
Trust, governed by foreign law
Samoa
Trust, governed by local or foreign law
International trust
International company
Offshore bank
Offshore insurance company
International partnership
Limited partnership
Seychelles
Trust, governed by local or foreign law
International business company
Singapore
Trust, governed by local or foreign law
Solomon Islands
Company
Partnership
Trust, 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 law
Provident fund
United Arab Emirates
Trust, governed by local or foreign law
Offshore company
State of Delaware (USA)
Limited Liability Company
State of Wyoming (USA)
Limited Liability Company
US Virgin Islands
Trust, governed by local or foreign law
Exempt company
Uruguay
Trust, governed by local or foreign law
Sociedad Anónima Financiera de Inversión
Vanuatu
Trust, governed by local or foreign law
Exempt company
International 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 law
International business company
Aruba
Trust, governed by local or foreign law
Stichting Particulier Fonds
British Virgin Islands
Trust, governed by local or foreign law
Company
Cayman Islands
Trust, governed by local or foreign law
Exempt company
Guernsey
Trust, governed by local or foreign law
Company
Foundation
Isle of Man
Trust, governed by local or foreign law
Company
Jersey
Trust, governed by local or foreign law
Company
Foundation
Liechtenstein
Anstalt (Trust, governed by local law) and trust governed by foreign law
Stiftung (Foundation)
Monaco
Trust, governed by foreign law
Fondation (Foundation)
Montserrat
Trust, governed by local or foreign law
International business company
Netherlands Antilles
Trust, governed by local or foreign law
Stichting Particulier Fonds
San Marino
Trust, governed by local or foreign law
Fondazione (Foundation)
Switzerland
Trust, governed by foreign law
Foundation
Turks and Caicos
Exempted company
Limited partnership
Trust, governed by local or foreign law’.
(3) The following Annex is inserted as ‘Annex II’:
‘ANNEX II
Indicative 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.
—
“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
—
“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/Partnerselskab
Partrederi
“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.
—
“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 shares
Arrangement 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 form
Incorporated firms engaged in listed professional activities in which all partners are individuals qualified in the same profession
Companies 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 partnership
Limited partnership
Limited liability partnership
General partnerships, limited partnerships; limited liability partnerships are transparent for tax purposes.
—
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, or
is 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.
(4) The following Annex is added as ‘Annex IV’:
‘ANNEX IV
LIST OF ITEMS FOR STATISTICAL PURPOSES TO BE PROVIDED ANNUALLY BY MEMBER STATES TO THE COMMISSION
1.
Economic items
1.1.
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 items
2.1.
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.’.

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Source: https://www.legislation.gov.uk/eudr/2014/48/annex (the official version)
Page: https://openlegislation.uk/eu-directive-2014-48/annex
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.