Activities of Rasmus ANDRESEN related to 2023/0187(CNS)
Shadow reports (1)
REPORT on the proposal for a Council directive on Faster and Safer Relief of Excess Withholding Taxes
Amendments (20)
Amendment 21 #
Proposal for a directive
Recital 1 b (new)
Recital 1 b (new)
(1 b) the financial sector has demonstrated inadequacy in upholding its responsibility as intermediaries between clients and national tax administrations, notably by assisting clients in securing tax refunds for amounts not genuinely paid, thereby defrauding EU member states of billions of euros.
Amendment 23 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2 a) To fight fraud, Member States’ Eurofisc liaison officials and the EPPO, OLAF and Europol should be able to access and analyse all needed information on withholding tax relief or refund procedures. Notes that the cum-ex and cum-cum schemes both involve reclaims of dividend withholding tax, facilitated by the financial sector and other intermediairies, to which the beneficiaries were not entitled and are estimated to have imposed a total cost to public coffers of around EUR 140 billion between 2000 and 2020 in the EU. Is afraid such schemes and similar schemes are still being deployed in Member States. Notes the progress made in certain Member States to fight such fraudulent schemes.
Amendment 25 #
Proposal for a directive
Recital 2 b (new)
Recital 2 b (new)
(2 b) The cum-ex and cum-cum schemes have been ruled illegal and should constitute serious criminal offenses.
Amendment 26 #
Proposal for a directive
Recital 2 c (new)
Recital 2 c (new)
(2 c) Underlines Member States should strive to agree on a common withholding tax rate in the EU.
Amendment 27 #
Proposal for a directive
Recital 2 d (new)
Recital 2 d (new)
(2 d) To ensure the integrety of the internal market the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) should regularly monotor the risk for cum-cum, cum-ex and similar schemes in the EU and enhanced cooperation and mutual assistance between national competent authorities, tax authorities and other law enforcement bodies should help to detect and prosecute withholding tax reclaim schemes.
Amendment 54 #
Proposal for a directive
Article 4 – paragraph 2 – point f a (new)
Article 4 – paragraph 2 – point f a (new)
(f a) the double tax treaty pursuant to which the taxpayer is considered resident for tax purposes in the Member State of issuance, where applicable;
Amendment 62 #
Proposal for a directive
Article 4 – paragraph 5 a (new)
Article 4 – paragraph 5 a (new)
5 a. Member States shall take the appropriate measures to require an individual or entity deemed resident in their jurisdiction for tax purposes to inform tax authorities issuing the eTRC about any change that could affect the validity or the content of the eTRC.
Amendment 63 #
Proposal for a directive
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The Commission shall adopt implementing acts laying down standard computerised forms in machine-readable format, including the linguistic arrangements, and technical protocols, including security standards, for the issuance of an eTRC. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 18.
Amendment 69 #
Proposal for a directive
Article 5 – paragraph 4 – point d a (new)
Article 5 – paragraph 4 – point d a (new)
(d a) Information on the fees charged for the provision of services under this Directive.
Amendment 82 #
Proposal for a directive
Article 8 – paragraph 3
Article 8 – paragraph 3
3. The Member State that removes a certified financial intermediary from its national register shall inform without delay all other Member States that maintain a national register according to Article 5, indicating the reasons for such removal.
Amendment 83 #
Proposal for a directive
Article 8 – paragraph 3 a (new)
Article 8 – paragraph 3 a (new)
3 a. Member States shall update their national registers to reflect the status of financial intermediaries no longer holding certification. In cases where the removal as a certified financial intermediary results from a decision by a Member State, the specific reasons for such action shall be clearly indicated in the register.
Amendment 104 #
Proposal for a directive
Article 11 – paragraph 2 – point a a (new)
Article 11 – paragraph 2 – point a a (new)
(a a) the risks associated with the misuse by the registered owners of an eTRC issued by Member States or third countries which offer residence and citizenship by investment schemes;
Amendment 108 #
Proposal for a directive
Article 11 – paragraph 3 a (new)
Article 11 – paragraph 3 a (new)
3 a. By [2 years from the date of entry into force of this Directive], the Commission shall adopt recommendations for the fulfilment of the requirements laid down in paragraph 2.
Amendment 115 #
Proposal for a directive
Article 13 – paragraph 2
Article 13 – paragraph 2
2. Member States shall process a refund request made in accordance with paragraph 1 within 25 calendar days from the date of such request or from the date reporting obligations under this Directive have been met by all relevant certified financial intermediaries, whichever is the latest. Member States shall apply interest in accordance with Article 14 on the amount of such refund for each day of delay after the 25th day, unless the Member State has reasonable doubts on the legitimacy of the refund request.
Amendment 127 #
Proposal for a directive
Article 18 a (new)
Article 18 a (new)
Article 18a Monitoring and exchange in information 1. To ensure the integrety of the internal market the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) shall regularly monotor the risk for cum-cum, cum-ex and similar schemes in the EU. 2. Member States shall introduce enhanced cooperation and mutual assistance between national competent authorities, tax authorities and other law enforcement bodies, such as the European Public Prosecutor’s Office (EPPO) to detect and prosecute withholding tax reclaim schemes.
Amendment 128 #
Proposal for a directive
Article 18 b (new)
Article 18 b (new)
Article 18b Evaluation of fraudulent schemes 1. A year after transposition of the Directive, the Commission shall submit a report to the European Parliament and the Council assessing whether Member States are still impacted by or prone to dividend arbitrage and dividend stripping schemes such as the Cum/Ex and Cum/Cum schemes. Such report shall be submitted every 2 years thereafter. 2. Member States shall communicate to the Commission relevant information for the purpose of paragraph 1. 3. For the purpose of paragraph 2, Member States shall consult the EBA, the ESMA, the EPPO and relevant national competent authorities. 4. If deemed necessary, the Commission shall present a legislative proposal to further clamp down on dividend arbitrage and dividend stripping schemes. The Commission shall consider introducing a common withholding tax in the EU or a proposal to tax capital gains upon disposal of shares and security lending fees equivalent to dividends.
Amendment 130 #
Proposal for a directive
Article 19 – title
Article 19 – title
Amendment 143 #
Proposal for a directive
Article 19 – paragraph 2 a (new)
Article 19 – paragraph 2 a (new)
2 a. Member States shall actively assess whether the Directive has an impact on risks for tax fraud and abuse, and the impact on tax revenues.
Amendment 145 #
Proposal for a directive
Article 19 – paragraph 5
Article 19 – paragraph 5
5. Information communicated to the Commission by a Member State under paragraph 2, as well as any report or document produced by the Commission using such information, may be transmitted to other Member States and the European Parliament. The transmitted information shall be covered by the obligation of official secrecy and enjoy the protection extended to similar information under the national law of the Member State which received it.
Amendment 146 #
Proposal for a directive
Article 19 a (new)
Article 19 a (new)