In 2008, the Commission proposed a revision of the EU Savings Directive, in order to close loopholes in the legislation that were being exploited by tax evaders (see H&I 2009/1.15). For example, the proposal foresees extending the scope of the Directive to cover investment funds, pensions and innovative financial instruments. It will also capture payments made through structures such as trusts and foundations. This will help prevent tax evaders from escaping the provisions of the Savings Directive by channelling their money through structures outside its current scope. The EU agreements with Switzerland and the other 4 countries are meant to largely reflect the measures applied internally within the EU. Therefore, any change to the EU Savings Directive should also be accompanied by an adjustment of the savings agreements with these countries.