FASTER entered into force on 30 January 2025
24/04/2025
After further consultation with the European Parliament, the Council of Europe adopted on 10 December 2024 the new rules for withholding tax procedures (FASTER).
The Directive was published in the Official Journal of the European Union (OJEU) on 10 January 2025 and entered into force on 30 January 2025. Member States will have to transpose the provisions of this Directive into national law by 31 December 2028, for application from 1 January 2030.
The FASTER Directive aims to improve withholding tax procedures within the European Union for non-resident investors (“Directive on Faster and Safer Relief on Excess Withholding Taxes”) and introduces legislation that imposes more reporting requirements.