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Taxation: Personal Savings

Volume 487: debated on Thursday 12 February 2009

To ask the Chancellor of the Exchequer how much tax has been repatriated to the UK by each country adopting the withholding tax option under the EU Savings Tax Directive. (255258)

The amounts of tax paid to the United Kingdom by those countries adopting withholding tax under the terms of the European savings directive or equivalent agreements with third party jurisdictions for the years 2005-06, 2006-07 and 2007-08 are set out in the following tables.

The withholding tax regime is a transitional mechanism. The UK strongly supports, and is promoting internationally, transparency through exchange of information as the way forward in combating cross-border tax evasion.

UK tax year 2005-06, as at January 2009

Amount of withholding tax

Country

£

$

Swiss Frs

EU member state

Austria

213,037.32

Belgium

663,601.22

Luxembourg

1,763,133.54

Associated and dependent territories

British Virgin Islands

429.17

0.79

Gibraltar

87,239.99

Guernsey

2,330,160.03

27,547.26

184,144.79

18,646.36

Isle of Man

6,393,423.50

Jersey

5,513,642.44

101,054.29

922,165.96

815.70

Netherlands Antilles

0

Turks and Caicos Islands

2,773.51

Third party states

Andorra

58,692.81

Liechtenstein

59,246.58

Monaco

372,994.00

San Marino

2,927.53

Switzerland

12,965,211.70

UK tax year 2006-07, as at January 2009

Amount of withholding tax

Country

£

$

Swiss Frs

EU member state

Austria

716,410.86

Belgium

1,621,577.96

Luxembourg

3,868,148.76

Associated and dependent territories

British Virgin Islands

1,278.52

158.39

Gibraltar

421,984.11

Guernsey

7,164,128.93

880,057.37

463,165.62

53,364.21

Isle of Man

9,765,119.30

Jersey

12,795,799.00

242,410.00

2,027,643.00

205.00

Netherlands Antilles

—-

NA gld 1,121.59

Turks and Caicos Islands

9,331.46

Third party states

Andorra

Liechtenstein

371,593.84

Monaco

905,583.00

San Marino

11,372.78

Switzerland

12,983,994.17

UK tax year 2007-08, as at January 2009

Amount of withholding tax

Country

£

$

Swiss Frs

EU member state

Austria

1,086,497.75

Belgium

2,224,448.73

Luxembourg

3,812,286.91

Associated and dependent territories

British Virgin Islands

1.47

3,748.23

1,397.87

Gibraltar

Guernsey

7,471,670.19

800,818.05

289,957.60

59,219.53

Isle of Man

10,699,869.08

Jersey

15,546,309.00

402,977.00

2,125,508.00

2,127.00

Netherlands Antilles

NAgld 1,466.73

Turks and Caicos Islands

4,972.36

Third party states

Andorra

200,492.80

Liechtenstein

542,534.00

Monaco

1,067,492.00

San Marino

9,961.44

Switzerland

40,227,819.75