You have savings outside the Netherlands
The European Savings Tax Directive has become effective on 1 July 2005. The purpose of this directive is to ensure that taxation of interest on savings can effectively take place. Everyone receiving interest from an EU member state (or a number of other countries and areas) other than the member state in which he resides, is taxed according to the national law of the country in which he resides. The specified measures specifically see to the exchange of interest information.
The financial institutions in a number of countries are not exchanging information yet during a transition period, but withhold tax on interests paid instead. This withholding tax may be deducted from tax paid in the Netherlands.
Avoiding withholding tax
If you do not wish tax to be withheld by such a financial institution, you can give permission for the exchange of information or avoid the exchange of information by giving the information yourself, subject to the regulations in the country concerned.