Liechtenstein and Luxembourg have signed a double taxation agreement in line with OECD standards for tax transparency.
Luxembourg's Finance Minister, Luc Frieden and Liechtenstein's Prime Minister, Klaus Tschutscher signed the double taxation agreement in Vaduz, the capital of the Alpine principality.
Liechtenstein agreed in March to adopt OECD standards on tax information exchange, and earlier this month, Liechtenstein signed an accord with the UK, aimed at recovering outstanding taxes from British investors with undeclared funds lodged in Liechtenstein. An agreement on the exchange of tax information was also reached with the United States last September.
Luxembourg, meanwhile, has now concluded 15 such agreements in accordance with OECD standards, with: the USA, France, UK, Finland, Armenia, Denmark, the Netherlands, Norway, Austria, Qatar, Bahrain, India, Belgium, Monaco and Liechtenstein.
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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