Die EU-Zinsenrichtline: Ein Schuss in den Ofen?

The ultimate aim of the EU Savings Tax Directive is the effective taxation of interest income. The EU has switched with the Directive from a policy which was based on trust in the citizens and on a certain degree of self-determination, to a procedure which is characterized by distrust and monitoring. On the other hand the Directive’s regulations which focus on the classical behavioral determinants of tax evasion seem to be insufficient. In sum, it is possible that the Directive has failed to achieve its goal. The integral mechanism of the Directive is tax-related information exchange. Since tax-related information exchange is a strategic variable for the member states to adjust the attractiveness of their financial markets, it is debatable whether existing loopholes in the national implementations are the result of hidden non-cooperative behavior of the member states.