Taxes On Foreign Deposits-Analytical Study For E.U Experience And The possibility Of Applying It In Arab Countries

Abstract

Originating of taxes on foreign deposits is considered on of themost important and modern subjects. It has been originating after along negotiation concluded by E.U. This system started to be appliedas discounts from the source on interests and deposits of non-residentEuropeans that existed in it's banks with keeping it as secret. Thevalue of discount is about 15% as a first stage and then 20% as asecond stage to become 35% in 2011. This paper tries to get thepossibility of originating of these taxes and to apply it in Arabcountries or on Arab deposits in foreign banks of non-resident Arabs.The paper contains three topics, the cause of originating taxes onforeign deposits, the importance of tax reform in Arab counties, andthe necessary tax procedure to impose taxes on foreign deposits.