Retention Tax

外汇网2021-06-19 13:59:20 213

A mandatory tax placed on income that is earned on investments in a country that is not the resident's home country. This only applies to countries that are members of the European Union (EU).

The retention tax was set up by the EU in 2005 to pvent inpidual investors from avoiding taxes on their income by investing their money in other countries. The rates are scaling, and will rise to a level of 35% by 2011.

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