With the Government Declaration published in November 2013, Liechtenstein is reconfirming its commitment to the existing OECD standards on tax cooperation. Liechtenstein is also stating its positions on the future international standard of automatic exchange of information and possible bilateral negotiations.
Liechtenstein recognizes the legitimate tax claims of partner countries. At the same time, Liechtenstein is protecting the legitimate interests of the clients of the financial center, such as the right to confidentiality and privacy.
Already in March 2009, Liechtenstein clarified its position on the protection of the privacy of clients in the financial center and bank client secrecy. At the same time, the Principality confirmed its willingness to take up negotiations on agreements governing the exchange of tax information, in order to confront the global problem of tax fraud and tax evasion as well as double taxation. In this way, Liechtenstein lived up to its responsibility both in relation to the legitimate tax claims of other countries and also in relation to the trust placed by clients in the financial center.
Liechtenstein believes that the automatic exchange of information in tax matters will become the international standard of the future. Especially the OECD, the G20, and the EU are currently working toward that goal.
Liechtenstein emphatically supports the OECD in its efforts so that international cooperation will lead to uniform norms and thus in principle to the avoidance of double taxation of income from cross-jurisdictional activities. Clear rules, predictability, and equal treatment create legal certainty and planning certainty both for states and for companies and individuals. Liechtenstein supports its partner states in continuing to work on the basis of the shared principles and in that way to reduce unequal treatment and ensure mutually unrestricted market access.
Liechtenstein is convinced that effective tax cooperation requires more elements than information exchange. For this reason, Liechtenstein has continuously expanded its network of double taxation agreements in recent years and also has the necessary experience in developing tailored models to ensure tax compliance in regard to both the past and the future. Liechtenstein is consistently pursuing the tax compliance strategy it has embarked on and practiced for quite some time now. In this way, Liechtenstein is strengthening legal certainty for the clients of the financial center and offering them a perspective. At the same time, Liechtenstein is strengthening its international position as a reliable and trustworthy partner.