IDEAS home Printed from
   My bibliography  Save this paper

Die Zinsbesteuerung in der Europäischen Union


  • Rehm, Hannes


Considering the extent to which progress is being made with the integration of the European Capital Market, harmonisation of the taxation of income is becoming increasingly important. Efficient allocation of capital must not be hindered by inter-governmental tax differentials. Following more than forty years of discussion, the approach that is now beginning to emerge is one by which the principle of country of residence is translated into reality via a system of information exchange and tax collected at source. The information model should guarantee that interest income earned abroad is declared in the taxpayer's country of residence. EU states that place great value on banking secrecy should be able to charge tax collected at source for interest income earned there during a transition phase ending in 2002. Their tax rates must be raised from 15 % to 35 % during this period in order to stimulate the transition to information exchange in these countries as well. In this context, Switzerland and other third countries, which are supposed to give up their status as tax havens and adopt this approach, represent a particular problem relating to tax policy. The model chosen for the EU is a pragmatic concession in so far as its intervention in national tax law is relatively limited. With its interest income tax rate of 25 %, which is to apply to interest income earned by resident taxpayers from 2004 onwards, German tax legislation has opted for an approach that would be compatible with the European solution if, while implementing the European approach, information about interest income earned in Germany by non-resident individuals could also be passed on. Both the standards negotiated for a European guideline on the taxation of interest income and the German approach are incomplete in as far as there remain considerable gaps in the recording of impersonal and personal tax liability. Further efforts need to be made as regards tax policy in order to eliminate the remaining deficiencies in the taxation of interest income and bring about coordination between the burden of interest income and the likewise necessary harmonisation of corporate management in a way that makes sense economically.

Suggested Citation

  • Rehm, Hannes, 2003. "Die Zinsbesteuerung in der Europäischen Union," Hannover Economic Papers (HEP) dp-281, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
  • Handle: RePEc:han:dpaper:dp-281

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. John Hey & Andrea Morone & Ulrich Schmidt, 2009. "Noise and bias in eliciting preferences," Journal of Risk and Uncertainty, Springer, vol. 39(3), pages 213-235, December.
    2. Hey, John D & Orme, Chris, 1994. "Investigating Generalizations of Expected Utility Theory Using Experimental Data," Econometrica, Econometric Society, vol. 62(6), pages 1291-1326, November.
    3. Andrea Morone, 2008. "Comparison of Mean-Variance Theory and Expected-Utility Theory through a Laboratory Experiment," Economics Bulletin, AccessEcon, vol. 3(40), pages 1-7.
    4. Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
    5. Harless, David W & Camerer, Colin F, 1994. "The Predictive Utility of Generalized Expected Utility Theories," Econometrica, Econometric Society, vol. 62(6), pages 1251-1289, November.
    6. Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
    7. Gul, Faruk, 1991. "A Theory of Disappointment Aversion," Econometrica, Econometric Society, vol. 59(3), pages 667-686, May.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Abgeltungssteuer; europäischer Kapitalmarkt; persönliche und sachliche Steuerpflicht bei der Zinssteuer; Schwellenlandprinzip; Wohnsitzlandprinzip; Zahlstellenprinzip;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:han:dpaper:dp-281. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Heidrich, Christian). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.