The EACB stressed that the adoption of a standardised EU-wide system of withholding tax relief at source would be the optimal approach, as it can be implemented in the most resource-efficient way from the banks' standpoint.
Regarding the EC’s preferred option to establish a quick refund system within a set time frame and/or a relief at source, the EACB emphasised that should banks be tasked with executing withholding tax refunds, they should be permitted to charge a special fee for providing this service.
Furthermore, concerning the obligation of the Certified Financial Intermediaries (CFIs) to gather additional data for carrying out financial transactions, we advocate that CFIs should only report the information that is already in their possession.