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...

Recently, there have been various proposals in Germany to exempt interest income of individuals from progressive income taxation, and to levy a flat source tax, instead. The isolated introduction of a flat tax on interest income would have a significant effect on all investment and financing...