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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

2012 retention tax payments made to the EU Member States

​​A total of £5.95 million in retention tax has been sent to EU member states. This is 75% of the total tax retained, the remaining 25% (£1.98 million) is retained by the Treasury under the terms of the agreements.

This is higher than in 2011 (£4.6 million sent to the member states and £1.5 million retained) due to the first full year effect of the increase in the retention tax rate from 20% to 35%.

EU Savings Direc​​tive retention tax distribution list

Year 2012 (distributed June 2013)
GBP EUR USD CHF Sterling total
Austria 36,604 707 411 0 37,486
Belgium 103,039  1,139 1,275  0 104,859 
Bulgaria 3,664  2 3 0 3,668 
Cyprus 93,831  4,316  14,035  0 106,744
Czech Republic 12,284  369 1,174 0 13,371 
Germany 160,293  20,009  18,734  0 189,878
Denmark 21,502  1,441 178  0 22,867 
Estonia 275 0 0 0 275 
Spain 441,721  23,022 27,927  0 479,926 
Finland 10,575  1,046  0 11,266 
France 433,160  17,204  69,871  0 493,732 
Great Britain 3,209,134  55,878  260,771  3,427,979 
Greece 198,614  20,764  52,064  250,635 
Hungary 11,093 2,327  44  0 13,139
Ireland 175,093  8,137  15,612  0 192,347 
Italy 206,206  5,619  7,884  0 216,228 
Lithuania 1,030  272  0 1,208 
Luxembourg 12,524  104  0 12,614 
Latvia 2,544  13  0 2,553 
Malta 79,639  1,026  6,564  0 84,818 
Netherlands 84,517  14,655  2,394  0 98,785 
Poland 18,628  10  114 0 18,712 
Portugal 96,761  1,765  6,118  0 102,289 
Romania 5,191  25 0 5,208 
Sweden 53,812  1,024 2,809  0 56,535 
Slovenia 919 92 7 0 1,003
Slovak Republic 982  0 0 982 
Total 5,473,637  179,618  489,343  5,949,105 
 ​

Supplementary information

  1. When the EU member states implemented, with effect from 1 July 2005, a directive on the taxation of savings income, Jersey, in common with a number of other dependent or associated territories of the member states and five European third countries (Andorra, Liechtenstein, Monaco, San Marino and Switzerland) agreed to support the European Union by applying a withholding / retention tax to savings income arising in the Island, the beneficial owner of which is an individual who resides in a Member State. Within the EU, Austria and Luxembourg are also applying a withholding tax. The remaining member states of the European Union are automatically exchanging information on savings income.
  2. The States of Jersey enacted the Taxation (Agreements with European Union Member States) (Jersey) Regulations 2005. Under these regulations, the Comptroller of Taxes is appointed as the Competent Authority for the collection of the tax and its remittance to the relevant Member States.
  3. For the first 3 years (July 2005 - July 2008) retention tax was at the rate of 15%; for the following 3 years (July 2008 - July 2011) the rate was 20%; and thereafter the rate has been set at 35%.
  4. The agreements with the EU member states provide for the individuals subject to the retention tax to opt for voluntary disclosure of information to the tax authorities of their member state of residence as an alternative to paying the tax. For the year 2012 those opting for voluntary disclosure accounted for some 80% of the total interest payments covered by the agreements.  

​Archived retenti​on tax payments made to the EU Member States

​2011 retention tax payments made to the EU Member States

2010 retention tax payments made to the EU Member States

2009 retention tax payments made to the EU Member States

2008 retention tax payments made to the EU Member States

2007 retention tax payments made to the EU Member States

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