Considerations on COM(2015)150 - Signing of protocol to the Agreement with Switzerland on measures equivalent to those in Council Directive on taxation of savings income in the form of interest payments

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dossier COM(2015)150 - Signing of protocol to the Agreement with Switzerland on measures equivalent to those in Council Directive on taxation of ...
document COM(2015)150 EN
date May 26, 2015
 
table>(1)On 14 May 2013 the Council authorised the Commission to open negotiations with the Swiss Confederation to amend the Agreement between the European Community and the Swiss Confederation 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 (1), in order to align that Agreement with the recent developments at global level where it was agreed to promote automatic exchange of information as an international standard.
(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 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 Swiss Confederation have actively participated in the work of the OECD. 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 Union and the Swiss Confederation.

(3)Therefore, the Amending Protocol should be signed on behalf of the Union, subject to its conclusion at a later date,