Leg. Dev.: EC Draft Directive on the Taxation of Savings: Still a Long (and Bumpy) Road Ahead

9 Colum. J. Eur. L. 475 (2003)

Thomas Perrot.

Harmful tax competition is a phrase that lawmakers on both sides of the Atlantic have learnt to know these days, and if most agree that measures should be taken, little progress has been made so far. While Washington seems powerless to curb the ‘inversion’ phenomenon and the relocation of U.S. companies in tax heavens, the European Union has had little more success with its ‘tax package,’ and prospects look mixed, at least when it comes to one of the third limbs of its program, the Directive on Savings tax.