U.K. Proposes Tax Information Exchange to Solve Withholding on Non-Resident Savings

On February 25, 2000, the U.K. Treasury announced its intention to present proposals to combat evasion of taxes due on the savings income of individuals resident in EU member states through a system of information exchange rather than the controversial plans for a minimum withholding tax on non-resident savings. Dawn Primarolo, U.K. paymaster general, will advocate the U.K. strategy on February 25, 2000 at the first meeting of a high level working group charged with resolving the tax dispute….[more]