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Monday, 24 January 2005 |
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The EU Savings Directive should have come into effect this month. However, it has been postponed until July this year at which point it will have far reaching issues for many EU citizens ... is that you? Read
This Directive (Council Directive 2003/48/EC) is another measure by EU Tax authorities to tap into the billions of €,£,$ held in offshore bank accounts that remain in the borders of the EU. Places like Switzerland, Channel Islands and the Isle of Man, all traditional confidential offshore centres, will be forced to do one of two things:-
1. Tell your tax man what you have saved!
2. Levy 15-35% withholding tax on the account.
All is not doom and gloom and there is a way around this. Gone are the days when returning expatriates just left monies offshore and hoped the tax man would not find out. Certain investments and structures remain outside the scope of this new directive and we can ensure you are prepared should you be returning to the EU. Contact us today for an appraisal and let us show you how to effectively shield your assets and more importantly your savings from the prying hands of the tax man - legally! |
