On Tuesday, the EU finance ministers agreed on the withholding tax reform known as „FASTER“ during their Council meeting in Brussels. Today, cross-border investments are often subject to withholding tax on dividend and interest payments in one country, while the same income is subject to income tax in another country. EU states organize themselves bilaterally in order to avoid double taxation. However, this often leads to complex and lengthy processes that make cross-border investments more expensive and enable fraud.