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 | European Savings Tax Directive |  |  |
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The introduction of the European Union Savings Directive may affect you, if you reside in the European Union.
Across the European Union some changes are to be introduced that affect the treatment of interest earned on some customer bank deposits and the income arising (or in some cases the proceeds of sale) from certain bonds and investment funds. These changes, which come into effect on the 1st July 2005 through a measure known as the EU Savings Tax Directive, will affect individuals who are resident for tax purposes in an EU Member State* or one of its territories.
The Directive is applicable in all EU Member countries and whilst Jersey and the Isle of Man are not part of the EU, the Islands, in common with Switzerland and many other jurisdictions including Guernsey, have agreed to implement equivalent measures.
Should you be an existing client of Standard Bank in the Islands, please contact your Private Banker or Relationship Manager if you require further information.
Alternatively, please click on the relevant link below to access communications issued within Jersey and the Isle of Man:
Jersey Finance: http://www.jerseyfinance.je/content/1284/index.html
Isle of Man Finance: http://www.gov.im/iomfinance/welcome.xml
*UK, Ireland, France, Germany, Netherlands, Belgium, Italy, Luxembourg, Spain, Portugal, Greece, Austria, Sweden, Finland, Denmark, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia.
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