Liechtenstein Participates In Fiscal Debate At EU-EFTA Meeting
During a recent European Free Trade Association meeting, negotiations took place
between Liechtenstein and the European Union to finalise an anti-fraud agreement,
the conclusion of which would cement Liechtenstein’s
commitment to conforming to European standards with regard to cross-border exchange
of information. According to Prime Minister Otmar Hasler, Liechtenstein remains determined
to discourage cross-border tax offences. While maintaining that Liechtenstein
was fully prepared to co-operate, however, Hasler added that it should not be
expected to provide any greater degree of cooperation than that currently conceded
by other European Union member states. Indeed, calls for double taxation agreements
to be signed with states harbouring additional demands would be met by Liechtenstein’s
request to be recognised as a diverse and highly industrialized business location, Hasler said.
The draft form of the anti-fraud agreement reflects Liechtenstein’s commitment
to providing legal and administrative assistance, on the basis of a widened
concept of fraud. Furthermore, Liechtenstein has also revealed its intention
to fully comply with the Organisation for Economic Co-operation and Development's
standards regarding bilateral double taxation agreements.
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