On 14 May 2024, the Council of the European Union agreed on new rules for withholding tax procedures under the Council Directive on Faster and Safer Relief of Excess Withholding Taxes (FASTER). Due to changes the Council made in the Directive during negotiations, the European Parliament must now be consulted on the agreed text, after which it will need to be formally adopted by the Council and published in the Official Journal of the EU to enter into force. Member States will then need to ad…