Quote:
|
Originally Posted by H3X
...The Swiss volunteered to partake in the EU Savings Tax Directive as a 'Third Country' effective 1/7/05. So do not be mistaken. If you are an EU 'resident' you have to declare that you have some bank interest income hidden safely away in Switzerland... and have withholding / retention tax applied...
|
That's right, a lot of people are now paying tax where they didn't use to on their savings. Even if you don't declare it, a lot of the banks now deduct the withholding tax before paying you the interest, i.e. you get interest nett of EU tax.