4 Amendments of Markus FERBER related to 2023/0187(CNS)
Amendment 19 #
Proposal for a directive
Recital 1
Recital 1
(1) Ensuring fair taxation in the internal market and the good functioning of the Capital Markets Union (CMU) are political priorities for the European Union (EU). In this context, removing obstacles to cross-border investment, while combating tax fraud and abuse is critical. Such obstacles exist, for example, through inefficient and disproportionately burdensome procedures to relieve excess taxes withheld at source on dividend or interest income paid on shares or bonds traded publicly to non-resident investors. Such obstacles pose a particular challenge for retail investors. In addition, the status quo has proven inadequate in preventing recurring risks of tax fraud, evasion and avoidance, as shown by the recent Cum/Ex and Cum/Cum scandals. This proposal seeks to make EU withholding tax procedures more efficient, while strengthening them against the risk of tax fraud and abuse. It draws on relevant previous actions at EU and international level, such as the 2009 Commission Recommendation on the simplification of withholding tax procedures and the OECD’s Treaty Relief and Compliance Enhancement (TRACE) initiative28 . _________________ 28 Commission Recommendation of 19 October 2009 on withholding tax relief procedures (Text with EEA relevance) (OJ L 279, 24.10.2009, p. 8–11)
Amendment 45 #
Proposal for a directive
Recital 16 a (new)
Recital 16 a (new)
(16 a) This Directive should be reviewed regularly with the aim of further facilitating witholding tax relief for retail investors.
Amendment 57 #
Proposal for a directive
Article 4 – paragraph 2 – point g
Article 4 – paragraph 2 – point g
Amendment 132 #
Proposal for a directive
Article 19 – paragraph 1
Article 19 – paragraph 1
1. The Commission shall examine and evaluate the functioning of this Directive, after national rules transposing the Directive come into effect, every 5 years. A report on the evaluation of the Directive, including on a potential need to amend specific provisions thereof, will be submitted to the European Parliament and the Council by December 2031 and every 5 years. The report shall in particular assess how the procedures for withholding tax relief can be further simplified for retail investors. Where appropriate the evaluation report shall be accompanied by a legislative proposal.