The EU Directive on Faster and Safer Relief of Excess Withholding Taxes (FASTER) has been published in the Official Journal of the EU. This introduces a common tax residence certificate enabling investors to benefit from fast-track procedures to obtain relief from withholding taxes by way of automated digital tax residence certificates (eTRCs) to those deemed resident in a Member State for tax purposes. There will also be standardised reporting obligations for financial intermediaries including national registers.
Member States need to transpose the Directive into national legislation by 31 December 2028 with these national rules applying from 1 January 2030.
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The EU Directive on Faster and Safer Relief of Excess Withholding Taxes (FASTER) has been published in the Official Journal of the EU. This introduces a common tax residence certificate enabling investors to benefit from fast-track procedures to obtain relief from withholding taxes by way of automated digital tax residence certificates (eTRCs) to those deemed resident in a Member State for tax purposes. There will also be standardised reporting obligations for financial intermediaries including national registers.
Member States need to transpose the Directive into national legislation by 31 December 2028 with these national rules applying from 1 January 2030.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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