EU to Propose Tax Incentives to Spur Investment Accounts

The European Commission will recommend EU countries enact tax measures that would encourage consumers to open savings and investment accounts.

According to a draft document seen by Bloomberg, the measures include deductions upon opening such an account, exemptions on investment income, and deferrals so that people are taxed only when they withdraw from the accounts.

The recommendations are part of the so-called Savings and Investments Union, an initiative meant to help European companies get better access to capital while creating more financial opportunities for consumers.

The commission is scheduled to issue the recommendations at the end of ...