Liechtenstein and France have agreed to conclude a tax information exchange agreement (TIEA), it emerged recently.
Complying fully with the OECD Model Convention, the TIEA provides for information exchange upon request from the fiscal year 2010, and aims to guarantee cooperation in tax matters between the two countries.
The TIEA is due to be signed shortly by the respective countries, and will enter in to force once both countries have completed the ratification process.
Liechtenstein and France have also announced their intention to negotiate a double taxation agreement (DTA) as soon as possible, in a bid to further strengthen cooperation between the two countries.
Liechtenstein agreed in March to adopt OECD standards on tax information exchange and, in August, signed an accord with the UK, aimed at recovering outstanding taxes from British investors with undeclared funds lodged in Liechtenstein. A TIEA was also reached with the United States last September, and recently with Germany, Andorra, and Monaco. DTAs have also been concluded recently with Luxembourg and San Marino.
Earlier this year, Liechtenstein agreed to implement the OECD standard as part of a multilateral EU Anti-Fraud Agreement with all member states.
Liechtenstein aims to conclude at least 12 agreements containing the internationally- agreed standard by August, and to advance negotiations on further DTAs.
A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp
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