Recitals
- Recital (1)Ensuring fair taxation in the internal market and the good functioning of the capital markets union (CMU) are among the key political…
- Recital (2)In order to strengthen Member States’ ability to prevent and fight tax fraud and tax abuse, which is currently hampered by a general lack…
- Recital (3)Considering those differences and also the principle of proportionality, the provisions of this Directive regarding national registers of…
- Recital (4)This Directive harmonises access to systems of relief for investors in all Member States by providing for a common relief-at-source system…
- Recital (5)In order to be considered as comprehensive, a national relief-at-source system should contain a number of specific key features as set out…
- Recital (6)To ensure a proportionate approach, this Directive should cover procedures to relieve excess withholding taxes only in those Member States…
- Recital (7)Given that investors could be located in any Member State, rules for a common and digital tax residence certificate (eTRC) should apply in…
- Recital (8)To allow greater efficiency, the eTRC should cover a maximum period of the calendar year or of the fiscal year, such as a straddle fiscal…
- Recital (9)The eTRC should contain a reference to the double tax treaty in relation to which a taxpayer requests to be considered resident for tax…
- Recital (10)To fulfil the objective of more efficient relief of excess withholding tax, common procedures should be implemented across the Union which…
- Recital (11)As the financial intermediaries most often engaged in the securities’ payment chains are large institutions as defined in Regulation (EU)…
- Recital (12)This Directive should also provide for rules on the requirements for registration with national registers as well as rules on refusal…
- Recital (13)To ensure more transparency regarding the identity and the circumstances of the investor receiving a dividend or interest payment and…
- Recital (14)To ensure there are no information gaps in the payment chain and to enable investors to access the relief procedures, this Directive should…
- Recital (15)This Directive should not prevent certified financial intermediaries from outsourcing tasks related to the fulfilment of their obligations…
- Recital (16)In order to render the CMU more effective and competitive, procedures for the relief of excess withholding taxes on income from securities…
- Recital (17)Where the relevant requirements of this Directive are not met for payments within the scope of this Directive or where the investor…
- Recital (18)Where there is a risk of tax fraud or tax abuse, Member States should be able to enforce anti-fraud measures and to conduct thorough…
- Recital (19)In order to safeguard the systems for the relief of excess withholding taxes, Member States that maintain a national register should also…
- Recital (20)Certified financial intermediaries should be required to verify the applicable withholding tax rate based on the investor’s specific…
- Recital (21)The application of the withholding tax relief procedures under this Directive is subject to the condition that the registered owner, which…
- Recital (22)It is acknowledged that financial arrangements can be used to shift the ownership, in whole or in part, of a security or relevant…
- Recital (23)Furthermore, in the case of financial arrangements, it is understood that the ownership of the securities is not transferred to the buyer…
- Recital (24)Member States should be able to restrict the use of the relief-at-source system or the quick refund system in cases that present an…
- Recital (25)Nevertheless, there are cases where taxpayers could claim the reduced withholding tax rate based on Union legal acts implemented by…
- Recital (26)Considering the important role of certified financial intermediaries in reporting complete and correct information, which serves as the…
- Recital (27)In order to ensure the effectiveness of the applicable rules, Member States should lay down rules on penalties applicable to infringements…
- Recital (28)The proper transposition of this Directive in each Member State concerned is critical for the promotion of the CMU as a whole, as well as…
- Recital (29)In order to ensure uniform conditions for the implementation of this Directive, in particular for the digital tax residence certificate,…
- Recital (30)Any processing of personal data carried out within the framework of this Directive should comply with Regulation (EU) 2016/679 of the…
- Recital (31)Since the objective of this Directive cannot be sufficiently achieved by the Member States but can rather, by reason of the cross-border…
- Recital (32)The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 of the European…
Text as published in the Official Journal; for the authentic version, see EUR-Lex.
