The FOI, through the Malta office of the Malta Business Bureau, in conjunction with Bank of Valletta plc and the Financial Services Trade Section of the Malta Chamber of Commerce and Enterprise, organised a half-day seminar on "Taxation on Savings Income" last Friday at The Exchange Buildings in Valletta.

The seminar gave an overview of the EU Directive on taxation on savings income, applicable from July 1, 2005. The list of distinguished speakers included Bert Zuijdendorp, senior tax administrator at the European Commission's DG Taxation and Customs Union, who played a key role in drafting the EC Directive on taxation of savings income and was actively involved in the Council discussions on the proposed Directive.

He also participated in negotiations with Switzerland and other non-EU countries on equivalent measures.