The EU Savings Tax Directive
Sep 30th, 2008 | By Mark Nestmann | Category: Financial News, International InvestingWith an average tax burden consuming more than 40% of GDP, the 27-member European Union already has some of the world’s highest taxes. At the same time, the EU faces a fiscal crisis. Most EU countries have huge unfunded liabilities, especially for pensions. Unless EU economies grow at a much higher rate than they have over the last 20 years, taxes will skyrocket as Europe’s baby boomers retire.