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Whither or wither the European Union Savings Tax Directive? A case study in the political economy of taxation

George Peter Gilligan (Logan Senior Research Fellow, Department of Business Law and Taxation, Monash University, Australia)

Journal of Financial Crime

ISSN: 1359-0790

Article publication date: 31 December 2003

796

Abstract

Describes the European Union Savings Tax Directive (EUSTD), the latest initiative in a series since the issue of global taxation within the EU emerged in 1996. Traces the EUSTD’s genesis and the reason for its inception: this was to minimise the loss of tax revenues in some member countries by slippage, as taxpayers look to ways to avoid paying tax by moving funds between tax jurisdictions. Focuses on the disagreements that have plagued the various initiatives since 1996 concerning the proposed EUSTD; these represent a struggle between fiscal sovereignty and market power, with some member states being unwilling initially to consider any more towards coordination. Discusses the effects on the EUSTD of external organisations, eg the Organisation for Economic Cooperation and Development and the Financial Action Task Force.

Keywords

Citation

Gilligan, G.P. (2003), "Whither or wither the European Union Savings Tax Directive? A case study in the political economy of taxation", Journal of Financial Crime, Vol. 11 No. 1, pp. 56-72. https://doi.org/10.1108/13590790410809040

Publisher

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MCB UP Ltd

Copyright © 2003, Emerald Group Publishing Limited

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