Vol. 519 No. 5
70 Mrs. B. Moynihan-Cronin asked the Minister for Finance the progress made to agree a common rate or band of withholding tax on deposit interest with our EU partners; and if he will make a statement on the matter. [14292/00]
The discussion of this issue has continued under the Portuguese Presidency by means of a specially convened high level group. Some progress has been made on the basis of a UK initiative to solve a number of outstanding problems through the greater exchange of information on non-resident investors between member states. This latest proposal and other related issues, such as the position of third countries and the danger of capital flight, will be discussed by ECOFIN and by the European Council next month on foot of a report from the Presidency which is currently being prepared.
